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Shanghai Electric's wholly-owned subsidiary, Shanghai Electric Automation Group, plans to acquire 100% of Shanghai Ningsheng Industrial Co., Ltd. from Shanghai Electric Holdings for 3.082 billion yuan. Ningsheng Industrial holds a 50% stake in Shanghai FANUC Robotics, a joint venture with Japan's FANUC.
Shanghai Electric's subsidiary Shanghai Electric Automation Group will acquire 100% of Ningsheng Industrial from Shanghai Electric Holdings for 3.082 billion yuan. Ningsheng holds stakes in Shanghai Fanuc Robotics, an industrial robot joint venture with FANUC.