BYD subsidiary BYD Electronics reached an agreement with US-based printed circuit board manufacturer Jabil Circuit’s Singapore subsidiary on August 26, according to Reuters. BYD Electronics will acquire the latter’s mobile electronics manufacturing business in the Chinese cities of Chengdu and Wuxi for RMB 15.8 billion ($2.2 billion). Following the agreement, Jabil Circuit will transfer the operations in both cities to its newly-established entity called Juno Newco Target Holdco Singapore Pte. Ltd., and BYD Electronics will then acquire all shares of the new company. The move will enlarge BYD Electronics’ market share of products, enhance its overall competitiveness, and ensure long-term sustainable development, BYD said in an exchange filing, without divulging any further details about the acquisition. [Reuters; BYD filing, in Chinese]
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