It is reported that FLEX's PCB manufacturing business related entities, collectively known as Multek. Specifically include five production entities located in Zhuhai, two trade entities in Mauritius and Hong Kong, four holding entities in the British Virgin Islands and Hong Kong.
Before the transaction is delivered, the target company's shareholding structure is as follows:
Upon completion of the acquisition, Dongshan Precision will directly or indirectly hold 100% of the total of 11 companies including Zhuhai Chaoyi Electronics, Zhuhai Chaoyi Technology and Zhuhai Chaoyi Industrial. The shareholding structure of the Target Company is as follows:
According to the disclosure, the underlying transaction consideration for this transaction is US$292.5 million, and the final purchase price will be adjusted according to the transaction consideration adjustment mechanism stipulated in the Share Purchase Agreement.
The delivery date of this transaction is July 26, 2018. On the delivery date, the company has paid the estimated purchase price of 289.5 million yuan to the bank account designated by the counterparty, and the remaining 3 million US dollars to the third party escrow account. 4. The transaction has completed the delivery procedure as stipulated in the Share Purchase Agreement.
Announcement shows that FLEX is a US NASDAQ listed company. Headquartered in Singapore, FLEX is a world-renowned electronics manufacturing service provider, providing customers with comprehensive services from concept forming to SketchtoScale, including creative design, industrial design, Product manufacturing, supply chain services and overall solutions, with hundreds of subsidiaries in more than 30 countries around the world, including communications, automotive, networking, medical, energy and other 12 industries.
Dongshan Precision plans to sell display and touch panel business
In addition, Dongshan Precision also announced that it intends to further optimize the industrial layout, integrate company resources and improve the company's operational efficiency by selling non-core business-related assets such as large-size display business and touch panel business.
According to the disclosure, the underlying assets of the transaction include Dongshan Precision's large-size display business and touch panel business related assets. The above-mentioned business operations are all 100% directly or indirectly controlled by the company.
Among them, the large-size display business is part of the LED and display device business. Dongshan Precision has formed a large-size display business system through continuous investment of its own funds, including large-size backlight modules, large-size complete machines, computer displays and Related upstream sheet metal business; Touch panel business by the company in February 2014 through the acquisition of the new touch panel business. However, the touch panel industry technology update iteration faster, continuous fixed asset investment requirements In order to achieve the business strategy of focusing on the main business, Dongshan Precision plans to allocate its core resources to the field of printed circuit boards that have developed rapidly in recent years. Therefore, it is proposed to divest the touch panel business and dispose of related assets.
At present, Dongshan Precision has gradually formed three core business areas covering printed circuit boards, electronic devices and communication equipment. The products are widely used in consumer electronics, telecommunications, industrial, automotive and other markets. Selling large-size display services and touch panel business, Conducive to focusing on the development strategy of the main business.
Dongshan Precision said that if the asset sales can be successfully completed, it will further increase the proportion of the company's core business, and through the effective integration of assets, business and personnel, promote the efficiency of the company's operation and management and reduce the cost level, and improve the company's profitability. .