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BRIEF-China Transinfo Technology to acquire stake in Hangzhou tech firm for 4.5 bln yuan
November 7, 2017 / 1:08 PM / a month ago

BRIEF-China Transinfo Technology to acquire stake in Hangzhou tech firm for 4.5 bln yuan

Nov 7 (Reuters) - China TransInfo Technology Co Ltd

* Says it plans to acquire remaining 96.7 percent stake in Hangzhou tech firm for 4.5 billion yuan ($678.07 million) via cash, share issue

* Says it plans to raise up to 600 million yuan in share private placement to fund the acquisition

Source text in Chinese: bit.ly/2AqjogU

Further company coverage: ($1 = 6.6365 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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