Shenzhen Kaifa Technology to acquire stake in Finish Elcoteq
Published: 23 Jul 2009 18:23:27 PSTJul. 24, 2009 (China Knowledge) - Shenzhen Kaifa Technology Co Ltd<000021> on Jul. 21 signed a letter of intent with Finland-based Elcoteq SE, an electronics manufacturing services firm in the communications technology field, to purchase 30% of the latter firm's to-be-issued new shares for about EUR 50 million, sources reported. The Shenzhen-listed company will be the biggest shareholder of Elcoteq after the purchase. Reportedly, Elcoteq recorded total sales revenue of EUR 3.4 billion last year. In the first quarter of this year, the enterprise's net loss reached EUR 46.1 million, though it reaped EUR 470.03 million in sales revenue. As of Mar. 31, 2009, Elcoteq's total assets were EUR 747.2 million, and its total liabilities were EUR 656.88 million. Copyright © 2009 www.chinaknowledge.com |
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