BEIJING, Dec. 3 (Xinhua) -- Wingtech Technology Co., Ltd. (600745.SH) announced late Friday that it plans to join hands with other investors including Gree Electric Appliances (Gree, 000651.SZ) to acquire Nexperia, a global leader in Discretes, Logic and MOSFETs devices.
Gree, Guolian Group, among other participants, would become shareholders of Wingtech Technology after the acquisition through share conversion.
The Shanghai-listed company intends to purchase the underlying assets held by all the counterparties in a combination of share issuance of 11.256 billion yuan and 8.893 billion yuan of cash, totaling 20.149 billion yuan, according to company’s filing with stock exchange.
Gree invested a total of 3 billion yuan in this transaction.
The company and Gree are highly complementary in business, the company said, noting that after the completion of the transaction, Gree and other investors could optimize the company's shareholding structure by becoming shareholders of Wingtech through share conversion. (Edited by Niu Huizhe, firstname.lastname@example.org)