BYD Electronic Plans Acquisition Worth Nearly $2.2 Billion
27 Agosto 2023 - 9:13PM
Dow Jones News
By P.R. Venkat
BYD Electronic is planning to buy a company that could own a
manufacturing business in the Chinese cities of Chengdu and Wuxi
for nearly $2.2 billion to expand its smartphone components.
The company, Juno Newco Target Holdco Singapore, is a newly
formed entity owned by Jabil Circuit (Singapore), which is a
wholly-owned unit of NYSE-listed Jabil Inc., BYD Electronic said
Monday.
After the deal is completed, the target company will become a
wholly-owned subsidiary of BYD Electronic, and the financial
results of the target company will be consolidated into the group's
financial statements, BYD Electronic said.
Jabil Inc. is engaged in design engineering, manufacturing, and
supply chain services for the electronics manufacturing services
and consumer industries.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
August 27, 2023 19:58 ET (23:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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