Xuhong Mingyuan No. 1 Private Equity Investment Fund, a fund of Ningbo Xuhong Investment Management Partnership Enterprise (Limited Partnership) agreed to acquire 5.2% stake in NBTM New Materials Group Co., Ltd. from Mitsumi Special Alloy Industry Co., Ltd. for approximately CNY 340 million.
January 09, 2017
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Xuhong Mingyuan No. 1 Private Equity Investment Fund, a fund of Ningbo Xuhong Investment Management Partnership Enterprise (Limited Partnership) agreed to acquire 5.2% stake in NBTM New Materials Group Co., Ltd. (SHSE:600114) from Mitsumi Special Alloy Industry Co., Ltd. for approximately CNY 340 million on January 9, 2017. Under the terms of the transaction, Xuhong Mingyuan No. 1 Private Equity Investment Fund, a fund of Ningbo Xuhong Investment Management Partnership Enterprise (Limited Partnership) will acquire 22.3 million shares and will pay CNY15.42 per share. The transaction has not been completed on February 8, 2017.
NBTM New Materials Group Co., Ltd. is a China-based company principally engaged in the production and sales of powder metallurgy machinery parts and soft magnetic materials. The Company's powder metallurgy machinery products include automotive parts, motorcycle parts and home appliance parts. The Company's powder metallurgy machinery parts are mainly applied in engines, gearboxes, chassis, compressors of air conditioners and refrigerators and motorcycle clutches. The Companyâs soft magnetic materials include gold powder, iron cores and alloy magnetic powder cores, among others, which are used for electrical equipment and electronic equipment. The Company distributes its products in domestic market and to overseas markets, including the North America, Europe, Japan, Korea and other areas.
Xuhong Mingyuan No. 1 Private Equity Investment Fund, a fund of Ningbo Xuhong Investment Management Partnership Enterprise (Limited Partnership) agreed to acquire 5.2% stake in NBTM New Materials Group Co., Ltd. from Mitsumi Special Alloy Industry Co., Ltd. for approximately CNY 340 million.
NBTM NEW MATERIALS GROUP CO., LTD. 
