Aero-powered proposed unit buys engine assets

Aviation Power (600893) in the evening of August 22, the announcement said that the aviation power will take shares as the price, to the AVIC Industrial group, the Western Airlines Group, Liyang, Huarong assets and Oriental assets to purchase the aviation engine business-related assets. The deal's assets are: the assets and liabilities associated with the aviation engine business of the Western Airlines Group, 100% per cent of the Southern Company, Liyang Aviation Power 100% and the 80% per cent of the three-leaf company. According to the information provided by the parties concerned, the preliminary valuation of the underlying assets is $4.12 billion.　　The issue price is 23.93 yuan/share, the number of shares is expected to be issued 175 million shares. The reorganization of the assets, is the AVIC Industrial group to aviation power as a platform to integrate its aviation engine business, another move.　　After the completion of the transaction, the aviation power will be in the original product based on the new medium-thrust propulsion plant, vortex-axis vortex propeller power plant production capacity, at the same time, the company's aviation engine parts foreign trade subcontracting production business product type and scale will be further expanded. In its previous reorganization, the group had injected aviation power with the assets and necessary ancillary facilities related to the production of aero-engines (including derivative products), subcontract production of aero-engine parts and non-aviation products, and the reorganization of the assets will be the final assembly of aero-engine research, The commissioning business and the assets related to the project of the failed acceptance technology are injected into the aviation power to realize the overall listing of the aero-engine business.