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The total value of this acquisition amounts to CNY 15.8 billion, equivalent to approximately $2.2B, as reported in filings.
Jabil Circuit (Singapore) is a subsidiary of Jabil Inc. (NYSE:JBL). Shares of the U.S.-listed company rose over 3% in early Monday trade.
Juno Newco Target Holdco Singapore will primarily own certain product manufacturing business in Chengdu and Wuxi, including the manufacturing of components for existing customers, after completion of reorganization by the seller, BYD Electronic says in the filing.
“The Board believes that the Acquisition will broaden the Group’s customer base and diversify its product portfolio, expand the business of smartphone components, significantly improve the Group’s customer and product structure, further capitalize on market development opportunities, enhance the strategic layout of core component products, propel the industrial upgrading of the Group, and mark the beginning of a new cycle of rapid growth,” BYD Electronic said in a filing.
