# Kingclean to acquire Shanghai Pajie for up to CNY 1.464 billion

Kingclean Electric (莱克电气) signed a letter of intent to acquire 100% of Shanghai Pajie Auto Parts (上海帕捷) from Paragon Trading and Gil-Mar P.H.G Far East Automotive. The total valuation is estimated between CNY 1.243 billion and CNY 1.464 billion.

- Type: Acquisition
- Announced: 2021-06-22
- Where: Shanghai, China
- Value: $192.0M (1.24B CNY)
- Status: announced
- Products: aluminum auto parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Kingclean Electric](https://endata.com/companies/55966.md) (acquirer)
- [Shanghai Pajie Auto Parts](https://endata.com/companies/55967.md) (target)
- [Paragon Trading](https://endata.com/companies/55968.md) (partner)
- [Gil-Mar P.H.G Far East Automotive](https://endata.com/companies/55969.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/498907.html), 2021-06-22: "公司拟收购上海帕捷汽车配件有限公司100%股权。"

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