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AVIC Electromechanical (600372.SH) announced it will absorb AVIC Electromechanical Systems (002013.SZ) via a share swap at a ratio of 1:0.6605, issuing 2.566 billion shares. The merger aims to create a world-class aviation avionics company.
AVIC Electromechanical subsidiary Qing'an Company plans to merge its controlled entity Qing'an Refrigeration with Shenyang AVIC Jidian Sanyo Refrigeration Equipment Co., Ltd. via a new-entity consolidation. The transaction price will be based on appraised value.