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Shanghai Electric plans to invest 660million yuan in Manz

Germany, an apple supplier, which has become a new target in the overseas acquisition list of Chinese enterprises. Shanghai Electric plan 1. Accuracy testing of instruments: invested 660million yuan to buy more than 1/4 of the shares of Manz, a German technology and equipment manufacturer

on February 28, Shanghai Electric signed an investment agreement with Manz company, planning to acquire no more than 29.9% of the shares of Manz company by issuing additional shares

Founded in 1987, Manz company is headquartered in roetlingen, Germany. Its business areas include display, solar energy and battery. Technology giant apple is also the main customer of Manz company. In 2006, Manz was listed on the Frankfurt Stock Exchange of Germany with the stock code of m5z

as of the end of 2015, the total share capital of Manz company was 5.42 million shares, of which Dieter Manz, the CEO of the company, and Ulrike Manz, his spouse, held 39% of the shares in total, while other shareholders held the remaining circulating shares

in order to promote the shareholding of Shanghai Electric, Manz company plans to issue additional shares and expand its existing share capital by 43%. The subscription price of new shares is close to the current market price, with a maximum of 40 euros per share. Last Friday (26th), Manz closed at 37.35 euros

Shanghai Electric will designate a subsidiary company to subscribe for some new shares issued by Manz with an investment of no more than 92.92 million euros (about 665 million yuan), and its subscription ratio will be between 27% and 29.9% of the total share capital. After the completion of this shareholding, Shanghai Electric also has the possibility to complete the full acquisition of Manz company

Bloomberg analyzed that Shanghai Electric Manz company, which also used dry ice as a shareholder, is under pressure to adjust its business direction and seek new funds. According to the financial report, Manz reported losses in 2014 and the first nine months of 2015. Its loss amounted to 38.17 million euros in the previous year, compared with 33.75 million euros in the first three quarters of 2015

last December, Manz company proposed a plan to reduce 174 employees to save 7.65 million euros. The layoffs accounted for about 10% of the total number of employees. The company said it had to implement the plan due to the delay and cancellation of orders

for Shanghai Electric, it invested 92.92 million euros in Manz, focusing on its technological precipitation in the past three decades. Shanghai Electric said that after this shareholding, it will improve the automation level of the company in related fields, and use the technology accumulation of Manz company to expand its application in the field of intelligent manufacturing, while forming the complementary resources and advantages of both sides in the international and Chinese markets

According to Reuters' analysis, this shareholding once again shows the growth momentum of overseas acquisitions by Chinese buyers, and the investment strength of Chinese enterprises makes it possible for German companies to obtain higher quotations. At the beginning of this year, two acquisitions by China National Chemical Corporation and Beijing Holding Co., Ltd. have set a new investment record for Chinese capital to acquire German enterprises

in January this year, Sinochem announced that it would acquire kraussmaffei, a German rubber and plastic machine manufacturer, for 925 million euros (about 6.624 billion yuan). Klaus mafi has a 178 year history and is known as Rolls Royce in the rubber and plastic machinery manufacturer industry

in early February, Beijing Holdings Co., Ltd. () was exposed that it planned to complete the acquisition of energy from waste, a German waste to energy power plant operator, at a price of 1.8 billion euros (about 12.889 billion yuan)

if it goes well, Shanghai Electric's subscription for new shares of Manz company is expected to be completed in the first half of this year, and Dieter Manz, 54, will remain the CEO of the company when he has not done experiments for a long time

as of the morning closing of February 29, Shanghai Electric A-share rose 0.49% to 8.19 yuan; H shares fell 0.9% to HK $3.32

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