Ningbo Jifeng acquires majority stake in Grammer AG

Ningbo Jifeng Auto Parts Co. increased its share in German interiors and seating supplier Grammer AG from 25% to 74% through a tender offer at €60 per share. The deal is expected to close in autumn 2018.

“Jifeng acquired the additional stake at €60 ($70) per share through a tender offer launched in June.”gardnerweb.com

• 2 sources
• gardnerweb.comChina’s Ningbo Jifeng Lands Majority Stake in Grammer | Gardner WebEdited by: GW Editorial TeamAug 10, 2018
• yicaiglobal.comJifeng to Take Wheel of German Auto Interior Parts Supplier for USD466 MillionTang ShihuaSep 4, 2018

Summarized from public sources; check the original articles before acting on it.