Shanghai Kelai Mechatronics Engineering Co.,Ltd agreed to acquire remaining 35% stake in Nantong Kelai Yingkai Intelligent Equipment Co., Ltd. from Nantong Kaimiao Equity Investment Center (Limited Partnership) for approximately CNY 100 million.
January 02, 2020
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Shanghai Kelai Mechatronics Engineering Co.,Ltd (SHSE:603960) agreed to acquire remaining 35% stake in Nantong Kelai Yingkai Intelligent Equipment Co., Ltd. from Nantong Kaimiao Equity Investment Center (Limited Partnership) for approximately CNY 100 million on January 2, 2020. The consideration will be paid in shares and cash. Upon completion, Nantong Kelai Yingkai Intelligent Equipment Co., Ltd. will become wholly owned subsidiary of Shanghai Kelai Mechatronics Engineering Co.,Ltd. The transaction is subject to shareholders approval of Shanghai Kelai Mechatronics Engineering Co.,Ltd and regulatory approval. On December 31, 2019, the transaction is approved by Nantong Kaimiao Equity Investment Center (Limited Partnership) and shareholders of Nantong Kelai Yingkai Intelligent Equipment Co., Ltd. On January 1, 2020, the transaction is approved by Board of Directors of Shanghai Kelai Mechatronics Engineering Co.,Ltd. As of February 5, 2020, The transaction has been approved by shareholders of Shanghai Kelai Mechatronics Engineering Co.,Ltd. On March 4, 2020, the transaction was approved by the China Securities Regulatory Commission. On April 13, 2020, Shanghai Kelai Mechatronics Engineering Co.,Ltd received the approval the China Securities Regulatory Commission.
Jiang Yu, Mi Yao, Zhu Feng and Chen Shaoyue of Huatai United Securities Co., Ltd. acted as financial advisors for Shanghai Kelai Mechatronics Engineering Co.,Ltd. Gu Gongyun, Zhang Zhixue, Chen Tiantian and Xing Qianwen acted as legal advisors for Shanghai Kelai Mechatronics Engineering Co.,Ltd. Zhu Jiandi of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountant for Shanghai Kelai Mechatronics Engineering Co.,Ltd. Ma Lihua, Chen Yifu and Li Haoguang of Shanghai Shenwei Assets Evaluation Co., Ltd. acted as evaluator in the transaction.
Shanghai Kelai Mechatronics Engineering Co.,Ltd is a China-based company principally engaged in the research, development and manufacturing of non-standard intelligent equipment and integrated system of industrial robots. The Company operates through two main segments. The Main Business segment is primarily involved in the manufacturing of flexible automatic production equipment and industrial robot system application products, among which the products include automatic assembling production line, automatic detecting production line, industrial robots and the peripheral system. The Others segment is mainly involved in the sales of parts and components, as well as the repairmen, maintenance, replacement and upgrade for components from original production line.
SHANGHAI KELAI MECHATRONICS ENGINEERING CO.,LTD. 
