Jabil Announces Definitive Agreement to Divest Mobility Business for $2.2 Billion
26 Setembro 2023 - 9:07PM
Business Wire
Jabil Inc. (NYSE: JBL) today announced the signing of a
definitive agreement to divest its Mobility business to BYD
Electronic (International) Company Limited (“BYDE”) in a cash
transaction valued at $2.2 billion. The definitive agreement
follows a preliminary agreement announced by the two companies on
August 27, 2023.
Under the agreement, Jabil’s Mobility business, which
manufactures components for consumer electronics, will transfer to
BYDE. The business is mainly located in Chengdu and Wuxi,
China.
“We are pleased to reach this definitive agreement with BYDE and
are confident that this transaction is the right step forward for
the company, our people, and customers,” said Jabil CEO Kenny
Wilson.
“Upon closing, Jabil will be well positioned to enhance its
shareholder-centric capital framework, including incremental share
buybacks. Additionally, it will provide opportunities for further
investment in electric vehicles, renewable energy, healthcare, AI
cloud data centers, and other end-markets,” added Wilson.
The transaction is anticipated to close within the first two
quarters of Jabil’s current fiscal year 2024 (which is the period
from September 1, 2023 through February 29, 2024), and is subject
to closing conditions, including required regulatory approvals.
Upcoming Earnings Release and 6th Annual Investor
Briefing
As previously announced, the company will host a conference call
and webcast to review the fourth quarter and fiscal year 2023
results. Additionally, CEO Kenny Wilson and members of the
management team will outline the strategic and financial priorities
for the coming fiscal year, including additional information
relating to the definitive agreement.
When: Thursday, September 28, 2023 – 8:30 a.m. ET
Dial-in: U.S. (877) 407-6184 or International (201) 389-0877
To access the live audio webcast and the accompanying slide
presentation, visit the Investor Relations section of Jabil’s
website, located at https://investors.jabil.com. An archived replay
of the webcast will be available after completion of the call.
Advisors
Goldman Sachs & Co. LLC and RBC Capital Markets are serving
as the exclusive financial advisors to Jabil, and Skadden, Arps,
Slate, Meagher & Flom LLP is acting as Jabil's legal counsel in
this transaction.
Forward Looking Statements: This release contains
forward-looking statements, including those regarding the
definitive agreement and the potential transaction with BYDE. The
statements in this release are based on current expectations,
forecasts and assumptions involving risks and uncertainties that
could cause actual outcomes and results to differ materially from
our current expectations. Forward-looking statements could be
affected by the following factors, among others, related to the
potential transaction: the occurrence of any event, change or other
circumstance that could give rise to the termination of the
definitive agreement, or the failure to satisfy closing conditions
and consummate the potential transaction; the ability of Jabil or
BYDE to obtain required regulatory approvals for the potential
transaction and the timing and conditions for such approvals; the
ability to obtain any approval required from the stockholders of
BYDE or required consents of other third parties; disruption from
the potential transaction, including potential adverse changes to
relationships with customers, employees, suppliers or other parties
resulting from the failure to consummate the potential transaction;
potential proceedings relating to the potential transaction that
could be instituted against Jabil; unexpected costs or unexpected
liabilities that may arise from the potential transaction, whether
or not consummated; the inability to retain key personnel; the
impact of changes in economic, market, political or social
conditions; and future regulatory or legislative actions that could
adversely affect the parties.
About Jabil:
Jabil (NYSE: JBL) is a manufacturing solutions provider with
over 250,000 employees across 100 locations in 30 countries. The
world's leading brands rely on Jabil's unmatched breadth and depth
of end-market experience, technical and design capabilities,
manufacturing know-how, supply chain insights, and global product
management expertise. Driven by a common purpose, Jabil and its
people are committed to making a positive impact on their local
community and the environment. Visit www.jabil.com to learn
more.
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version on businesswire.com: https://www.businesswire.com/news/home/20230926521274/en/
Investor Contact Adam Berry Vice President, Investor
Relations Adam_Berry@jabil.com Media Contact Timur Aydin
Director, Enterprise Content and Media
publicrelations@jabil.com
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