Sunway Communication: Plans to acquire 55% equity of an investee company and increase its capital, accelerating the rollout of its high-end MLCC business

Mars Finance news July 14: In a filing, Wayneway Communications said the company’s wholly owned subsidiary, Wayneway Communications (Yiyang) Co., Ltd., plans to acquire 55% of the equity of Wayneway Electronic Technology (Yiyang) Co., Ltd. via a cash transaction. The deal consideration will not exceed 1.1 billion yuan. After the acquisition is completed, the wholly owned subsidiary’s ownership stake will increase to 70% and gain control of the target company. Meanwhile, the parties have agreed to inject an additional 1 billion yuan into the target company going forward. The move is intended to meet global customers’ demand for high-end MLCC products and accelerate the company’s strategic layout in the high-end passive components sector. This transaction still needs to complete internal decision-making and approval procedures. (Company announcement)
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