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BRIEF-Shanghai Beite Technology to acquire stake in Guangyu Automobile Air Conditioning for 452.7 mln yuan
October 9, 2017 / 12:08 PM / in 2 months

BRIEF-Shanghai Beite Technology to acquire stake in Guangyu Automobile Air Conditioning for 452.7 mln yuan

Oct 9 (Reuters) - Shanghai Beite Technology Co Ltd

* Says it plans to buy 95.7 percent stake in Shanghai Guangyu Automobile Air Conditioning Compressor for 452.7 million yuan ($68.38 million) via cash, share issue

* Says it plans to raise up to 220 million yuan in private placement of shares to fund the acquisition

Source text in Chinese: bit.ly/2g5wsTV

Further company coverage: ($1 = 6.6206 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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