Aotecar New Energy Technology Co., Ltd. signed a conditional agreement to acquire 20.01% stake in Jiangsu Highstar Battery Manufacturing Co.,Ltd from Tongding Interconnection Information Co., Ltd. for approximately CNY 450 million.
January 16, 2017
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Aotecar New Energy Technology Co., Ltd. (SZSE:002239) signed a conditional agreement to acquire 20.01% stake in Jiangsu Highstar Battery Manufacturing Co.,Ltd from Tongding Interconnection Information Co., Ltd. (SZSE:002491) for approximately CNY 450 million on January 15, 2017. Aotecar New Energy Technology Co., Ltd will issue 33.98 million shares as consideration. In related transactions, Aotecar New Energy Technology Co., Ltd agreed to acquire 79.99% stake in Jiangsu Highstar Battery Manufacturing Co.,Ltd from a group of sellers for CNY 2 billion and will issue 109.39 million shares to raise supporting funds.
Jiangsu Highstar Battery Manufacturing Co.,Ltd reported total assets of CNY 1.23 billion and revenues of CNY 865.14 million in 2016. The transaction is subject to approval from the shareholders' of Tongding Interconnection Information Co., Ltd, approval of Ministry of Commerce regarding concentration of undertakings, approval from China Securities Regulatory Commission, another approval of Board of Directors of Aotecar New Energy Technology Co., Ltd and approval of shareholders' of Aotecar New Energy Technology Co., Ltd. The transaction was approved by the Board of Aotecar New Energy Technology Co., Ltd and Tongding Interconnection Information Co., Ltd. As of April 6, 2017, the transaction was approved by the State Administration of Science, Technology and Industry for National Defense. On April 21, 2017, the shareholders' of Aotecar New Energy Technology Co., Ltd and Tongding Interconnection Information Co., Ltd approved the transaction. Industrial Securities Co., Ltd. (SHSE:601377) acted as the financial advisor, Tian Yuan Law Firm acted as the legal advisor and Jonten Certified Public Accountants Co Ltd acted as the auditor to Aotecar New Energy Technology Co., Ltd. As of April 6, 2017, Beijing Highsrun Law Firm acted as the legal advisor to Aotecar New Energy Technology Co., Ltd.
Tongding Interconnection Information Co Ltd is a China-based company principally engaged in the communication cable and communication equipment business, power cable business and network security business. The Company's optoelectronic communications business mainly provides optical cables and optical communications equipment, including optical fiber preforms, optical fibers, optical cables, communication cables, railway signal cables, power cables, software defined network (SDN) equipment, optical distribution network (ODN) equipment, storage and server equipment, big data collection and analysis equipment, communication power equipment and other products. The network security business mainly provides network visualization products, including splitters, Internet data center (IDC)/Internet service provider (ISP) information security management systems, security services and other products.
Aotecar New Energy Technology Co., Ltd. signed a conditional agreement to acquire 20.01% stake in Jiangsu Highstar Battery Manufacturing Co.,Ltd from Tongding Interconnection Information Co., Ltd. for approximately CNY 450 million.
TONGDING INTERCONNECTION INFORMATION CO., LTD. 
