Xinyu Minjie Investment Management Co., Ltd. signed a framework agreement to acquire an additional 8.79% stake in Shanghai Guangdian Electric Group Co., Ltd. from Shenzhen Huaxin Peer Asset Management Partnership (Limited Partnership) for approximately CNY 490 million.
January 14, 2019
Share
Xinyu Minjie Investment Management Co., Ltd. signed a framework agreement to acquire an additional 8.79% stake in Shanghai Guangdian Electric Group Co., Ltd. (SHSE:601616) from Shenzhen Huaxin Peer Asset Management Partnership (Limited Partnership) for approximately CNY 490 million on January 14, 2019. An equity transfer agreement was also signed on same day. Under the terms, 82.2 million shares will be acquired at CNY 6 per share. Upon completion, Xinyu Minjie Investment Management Co., Ltd.’s stake will increase from 14.03% to 22.82% and Shenzhen Huaxin Peer Asset Management Partnership (Limited Partnership) will cease to hold any stake in Shanghai Guangdian Electric Group Co., Ltd.
Shanghai Guangdian Electric Group Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of power transmission and distribution equipment and control equipment, as well as the provision of related services. The Company operates its business mainly through three segments. The Complete Equipment segment provides 40.5 kilovolt (VK) or below alternating current (AC) medium voltage switchgears, ring main units (RMUs), AC low voltage switchgears, direct current (DC) switchgears, power cabinets and boxes, control cabinets and boxes and lighting boxes. The Components segment provides 40.5 kV and below medium-voltage circuit breakers, low-voltage circuit breakers and intelligent control components. The Power Electronics segment provides high voltage inverters and active filters. The Company distributes its products mainly in domestic market.
Xinyu Minjie Investment Management Co., Ltd. signed a framework agreement to acquire an additional 8.79% stake in Shanghai Guangdian Electric Group Co., Ltd. from Shenzhen Huaxin Peer Asset Management Partnership (Limited Partnership) for approximately CNY 490 million.
SHANGHAI GUANGDIAN ELECTRIC GROUP CO., LTD. 
