US completes acquisition of 32.5% stake in Egyptian Miraco company

NetEase Financial October 10 News of the United States of electrical appliances evening notice, at present, the company through the overseas wholly-owned holding subsidiaries to 57.48 million U.S. dollars to buy Egyptian listed companies Miraco company 32.5% shares, has completed the registration of equity transfer.　　In May this year, Midea Electric announced that it intends to acquire a 32.5% per cent stake in Miraco, a listed Egyptian company, to expand its African market.　　It is reported that April 28, the United States electrical appliances through the overseas wholly-owned holding subsidiary of the United States and the U.S. Electronics Dutch Company and UTC Wholly-owned Dutch subsidiary Joint Technology Holdings Limited signed an agreement to 57.48 million U.S. dollars to acquire its holdings of the Miraco company's 32.5% stake.　　After the completion of the equity acquisition, UTC through its wholly-owned subsidiaries hold a 37.1% stake in the Miraco company, is still the Miraco company's first major shareholder, the United States, the electrical holding Miraco company 32.5% of the equity, become the second largest shareholder. At present, Miraco company mainly produces and sells home air-conditioning, central air-conditioning and cold chain products, occupy Egypt's home air-conditioning, light commercial air-conditioning and central air-conditioning market leading position.　　Public information shows that 2009 Miraco company Total assets of 110 million U.S. dollars, net assets of 77 million U.S. dollars, total revenue of 204 million U.S. dollars, net profit of 20.6 million U.S. dollars. The report shows that the United States to achieve the first half of the electrical business income of 39.025 billion yuan, an increase of 56.72% per cent, attributable to the parent company's shareholders net profit of 1.789 billion yuan, an increase of 56.06% per cent, in line with market expectations.