# 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.

- Type: Acquisition
- Announced: 2024-05-13
- Where: China
- Value: $735.0M (5.32B CNY)
- Status: announced
- Products: bearings, fasteners, blades, metal cutting tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automotive Components](https://endata.com/sectors/automotive-components.md), [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Shanghai Electric](https://endata.com/companies/1068.md) (partner)
- [Shanghai Mechanical & Electrical Industry Co., Ltd.](https://endata.com/companies/47849.md) (acquirer)
- [Shanghai Prime Mingyu Machinery Technology Co., Ltd.](https://endata.com/companies/77391.md) (target)
- [Shanghai Electric Hong Kong Co., Ltd.](https://endata.com/companies/77398.md) (partner)
- [Shanghai Electric Group Hongkong Company Limited](https://endata.com/companies/77399.md) (partner)

## Sources

- [acnnewswire.com](https://www.acnnewswire.com/press-release/english/90807/smeic-proposes-to-acquire-shanghai-prime:-a-catalyst-for-developing-a-new-dual-wheel-driver-pattern), 2024-05-14: "This acquisition aims to enhance SMEIC's sustainable development capability and increase shareholder returns."
- [en.acnnewswire.com](https://en.acnnewswire.com/article.asp?art_id=90807), 2024-05-14: "On 13 May 2024, Shanghai Mechanical & Electrical Industry Co., Ltd. announced a proposal to acquire Shanghai Prime Mingyu Machinery Technology Co., Ltd."
- [jcnnewswire.com](https://www.jcnnewswire.com/pressrelease/90807/3/SMEIC-Proposes-to-Acquire-Shanghai-Prime:-A-Catalyst-for-Developing-a-New-Dual-Wheel-Driver-Pattern), 2024-05-14: "On 13 May 2024, Shanghai Mechanical & Electrical Industry Co., Ltd. announced a proposal to acquire Shanghai Prime Mingyu Machinery Technology Co., Ltd."

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