Acquisition of Shanghai Prima High 60% stake

Source: Internet
Author: User
Keywords Equity Prima High
Tags company force high released
Bo Shen Tools (002282) 17th released the news that the company recently with the German Prewi Schneidwerkzeuge Gmbh (hereinafter referred to as "Germany Prewi") signed a purchase contract, the acquisition of its own Prima high (Shanghai) Machinery Tools Manufacturing Co., Ltd. (hereinafter referred to as " Shanghai Prima High ") 60% equity.  The agreement entered into force on May 15, 2010. According to the introduction, Bo deep tools in Germany this April 24 in the German city (Herford) and Germany Prewi signed a purchase contract, to 600,000 euros for the purchase of Germany Prewi held by the Shanghai Prima High 60% of the stake.  In addition, the company has to prima the Shanghai high cost of 300,000 euros of capital and equipment. Prior to the acquisition, the German Prewi held a 100% stake in Shanghai Prima. And after the completion of the acquisition, Shanghai Prima will be changed from a German-owned enterprises to Sino-German joint ventures, the company holds its 60% per cent equity, the German Prewi holds its 40% stake.
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