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Company

CIG Shanghai Co., Ltd. to buy stake in Oclaro Japan

March 05, 2019


Abstract : CIG Shanghai (603083.SH) announced Tuesday morning that it had inked acquisition agreement as well as supplemental agreements with Lumentum Holdings and its subsidiary Oclaro Japan to buy part of Oclaro Japan's operating assets, personnel and business.

BEIJING, March 5 (Xinhua) -- CIG Shanghai Co., Ltd. (603083.SH) announced Tuesday morning that it had inked acquisition agreement as well as supplemental agreements with Lumentum Holdings Inc. and its subsidiary Oclaro Japan, Inc. to purchase part of Oclaro Japan's operating assets, personnel and businesses.

Under the agreements, Oclaro Japan will set up a SPV firm with above mentioned operating assets, personnel and business, 100 percent stake of which would be acquired by CIG Shanghai or its designated subsidiary in cash, reported Shanghai Securities News.

The transaction price is expected to be 41.6 million U.S. dollars and the assets involve Oclaro Japan's world leading telecom and data center interconnection optical transmitter and receiver components, modules as well as relevant technologies.

The deal is expected to accelerate CIG Shanghai’s development in optical communication industry especially in telecom carrier 5G transmission network, the company said. (Edited by Niu Huizhe, [email protected])

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