Walter AG signed a letter of intent on equity transfer to acquire a 63.89% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from Ningbo BaoSi Energy Equipment Co., Ltd..

Walter AG signed a letter of intent on equity transfer to acquire a 63.89% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. from Ningbo BaoSi Energy Equipment Co., Ltd. (SZSE:300441) on January 26, 2022. The 11th interim board meeting of the 4th board of directors of Ningbo Baosi Energy Equipment Co. reviewed and approved the transaction.

On July 22, 2022 the parties agree that the exclusivity period agreed in the letter of intent shall be extended for 90 days, and the extended exclusivity period shall expire on October 22, 2022.