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TCL Electronics (01070) announced it will acquire TCL Communication (100% stake) from its controlling shareholder TCL Industries for an undisclosed amount, and simultaneously sell its subsidiary Moka International (100% stake) to TCL Industries. The transactions aim to restructure the business, focusing on TCL-branded products and mobile communications.
TCL Electronics Holdings will spend up to $409 million to double its stake in Brazil-based joint venture SEMP TCL to 80% via subsidiary TCL NL. The move is driven by the market potential for selling competitively priced TVs in Brazil.