Feile Audio (600651) is another overseas acquisition in the field of LED lighting. The company recently announced an asset acquisition plan to acquire an 80% stake in Havells Malta Limited (HML) and an 80% stake in Havells Exim Limited (Exim) in cash. The company's stock continues to be suspended. Acquisition of international lighting giant In this acquisition, Feile Audio adopted a method in which a listed company established SPV (special purpose company) overseas to directly acquire overseas assets. The company intends to acquire HML's integrated 80% stake in cash of 138 million euros through a special purpose carrier INESA UK Limited (SPV) established in the UK through its wholly-owned subsidiary Shanghai Feile Investment Co., Ltd. Cash is expected to acquire an 80% stake in Exim for a total of €10.4 million, for a total consideration of approximately €149 million. In addition, the two parties also designed an asset divestiture plan for the acquisition, which is to divest the shares of the four subsidiaries indirectly held by HML before the transaction is delivered. The four subsidiaries are located in Thailand, Brazil, the United States and Chile, and operate and sell the lighting products related to the Xiwannian brand in the local market, but the long-term management is not good and has suffered losses for years. According to the announcement, the underlying company HML indirectly holds a 100% stake in Havells Netherlands, which controls the underlying business entity Havells Xiwannian through multiple holding companies. Founded in 1901, Havells is a leading global lighting technology company with more than 100 years of history, with extensive industry experience and a competitive position. Havells has three major brands, SYLVANIA, Lumiance and Concord, which focus on different markets such as retail homes and large lighting projects. As of the announcement date, Havells has a sales network in 48 countries around the world, with 500 sales and marketing staff and more than 6,000 distributors. Exim, one of the company's target companies, is responsible for providing procurement and working capital support for Havells. Exim's main business is to provide procurement services to Havells, and to increase the price by 1.6% to Havells Xiwannian subsidiaries. According to financial data, the underlying assets realized operating income of 376 million euros, 389 million euros and 196 million euros in 2013, 2014 and January-June 2015, respectively, and net profit of -24.49 million euros and 9.605 million euros and 424,000 euros respectively. . As of the evaluation date, the total equity value of the underlying asset shareholders was 189.05 million euros, which was attributable to the parent company's owner's equity appreciation of 135,156,000 euros and the appreciation rate of 248.70%. After negotiation by the parties to the transaction, the final transaction price totaled approximately 149 million euros. Feile Audio said that through this transaction, the company will have the above-mentioned product brands, sales channels and production bases, greatly enhance the company's brand influence, broaden the market sales channels and increase production capacity, so that the company's business is further diversified and globalized; The company gradually became a global lighting enterprise through outreach mergers and acquisitions, which enabled the endogenous main business and outreach mergers and acquisitions to achieve simultaneous profit growth. At the same time, the underlying company's asset statement will be included in the consolidated statement of the listed company, and the company's operating income is expected to increase significantly. Strongly expand the global market At the end of last year, Feile Audio acquired the 100% equity of Beijing Shenan Group and was approved by the China Securities Regulatory Commission. Under the strategic plan of establishing a "global service platform", this year, after the successful reorganization, Fei Le audio frequently went to the sea. Recalling the history of Feiyue's “going out to seaâ€, the company announced on the evening of January 30 that its wholly-owned subsidiary Beijing Shenan Investment Group Co., Ltd. and France's ARELIS Group and Meuse Province of France jointly signed the “Sino-French Joint Promotion of French Green Lighting Energy Savingâ€. The Restructuring Agreement, with a total planned investment of 3 billion euros. On April 13, the company's general manager Zhuang Shenan and R20 International Regional Climate Action Organization Chairman Arnold Schwarzenegger signed the "Strategic Cooperation Agreement" in Shanghai. Under the agreement, the R20 International Regional Climate Action Organization will support Feile Audio to promote, develop and implement low carbon green lighting projects globally. In May, the company signed cooperation agreements with Hungarian security products suppliers KABAZrt., OKOstore Co., Ltd. and Numerus Kft Group to accelerate the promotion of the company's “Asian†LED products in the international market; on June 22, the company announced plans to adopt the PPP model. Expand the Brazilian lighting market. Subsequently, Feile Audio announced on the evening of July 21 that it intends to issue a non-binding letter to Osram, Germany. The company intends to acquire the channel business of OSRAM's planned spin-off. In recent years, domestic lighting companies have been accelerating the pace of overseas mergers and acquisitions, and by 2015, the heat is still not decreasing. This year, in addition to the strong distribution of Feile Audio in overseas markets, a number of domestic lighting companies have also launched acquisitions of well-known overseas companies. For example, Jinshajiang Venture Capital led a consortium of $3.3 billion to acquire a 80.1% stake in Lumileds, a lighting company owned by Royal Philips Lighting of the Netherlands; and developed a crystal company, Puhuarui, to acquire a 100% stake in BridgeLux in the US for US$130 million; like Feile Audio, Mu Linsen also There has been a strong interest in the channel business of OSRAM's planned spin-off. Description Transformer Laminated Wood Blocks Wood Step Block,Transformer Step Block,Laminated Wood Supporting Blocks,Transformer Laminated Wood Blocks Yingkou Dongyuan Electrical Insulation Board Co.,Ltd , https://www.dy-insulation.com
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