SMEIC proposes to acquire Shanghai Prime for RMB 5,318 million

Shanghai Mechanical & Electrical Industry Co., Ltd. (SMEIC) announced a proposal to acquire 100% equity of Shanghai Prime Mingyu Machinery Technology Co., Ltd. from Shanghai Electric Group and its affiliates for an appraised value of RMB 5,318 million. Shanghai Prime manufactures industrial basic parts and key components.

“This acquisition aims to enhance SMEIC's sustainable development capability and increase shareholder returns.”acnnewswire.com

• 3 sources
• acnnewswire.comSMEIC Proposes to Acquire Shanghai Prime: A Catalyst for Developing a New Dual-Wheel Driver PatternMay 14, 2024
• en.acnnewswire.comMay 14, 2024
• jcnnewswire.comSMEIC Proposes to Acquire Shanghai Prime: A Catalyst for Developing a New Dual-Wheel Driver PatternMay 14, 2024

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