Avatr to acquire 10% stake in Huawei's Newcool for $1.6 billion

Avatr Technology will purchase a 10% stake in Huawei's automotive parts unit Newcool for RMB 11.5 billion ($1.6 billion), marking Newcool's first external investment. The deal values Newcool at RMB 115 billion.

“Avatr will sign the equity transfer agreement with Huawei on August 20 in Chongqing, with the transaction amounting to RMB 11.5 billion ($1.6 billion).”cnevpost.com

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• cnevpost.comAvatr to acquire 10% stake in Huawei's parts unit Newcool for $1.6 billionAug 19, 2024

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