Dazheng Group (Hong Kong) Investment Holdings

A consortium managed by Recco Control Technology Pte. Ltd. and Dazheng Group has confirmed an optional conditional offer to acquire Hollysys Automation Technologies Ltd for $1.55 billion ($25 per share).

Recco Control Technology and Dazheng Group entered a non-binding MOU with Great Wall Capital Management for co-investment opportunities, and reaffirmed their interest in acquiring Hollysys Automation Technologies Ltd.

A buyer consortium led by Recco Control Technology Pte. Ltd. and Dazheng Group (Hong Kong) Investment Holdings Company Limited has submitted a non-binding offer to acquire Hollysys Automation Technologies Ltd. for $25 per share in cash. The offer was initially submitted on December 3, 2021, and reiterated on January 24, 2022.