# 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.

- Type: Acquisition
- Announced: 2018-08-10
- Where: Amberg, Bavaria, Germany
- Value: $466.0M (3.12B CNY)
- Status: announced
- Products: headrests, armrests, interiors, seating
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Grammer](https://endata.com/companies/32001.md) (target)
- [Ningbo Jifeng Auto Parts Co.](https://endata.com/companies/32186.md) (acquirer)
- [Ningbo Jiye Investment](https://endata.com/companies/34093.md) (target)

## Sources

- [gardnerweb.com](https://www.gardnerweb.com/news/chinas-ningbo-jifeng-lands-majority-stake-in-grammer), 2018-08-10: "Jifeng acquired the additional stake at €60 ($70) per share through a tender offer launched in June."
- [yicaiglobal.com](https://www.yicaiglobal.com/news/jifeng-to-take-wheel-of-german-auto-interior-parts-supplier-for-usd466-million), 2018-09-04: "Jifeng will invest CNY3.12 billion (USD466 million) via cash and shares to gain indirect control of German passenger vehicle interior product supplier Grammer"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.