Lenovo Group (0992.HK: Quotes), the world's leading computer (PC) manufacturer, announced on Tuesday that it has completed the acquisition of more than 51% of German consumer electronics company Medion AG (MDNG.DE).
According to Lenovo, after completing the share purchase agreement with Medion Brachmann, the largest shareholder and founder of Medion, Lenovo Group held more than 51% of Medion shares through a wholly-owned subsidiary, Lenovo Germany Holdings. Has about 56% of voting rights for Medion.
The press release quoted the Lenovo Group’s mature market president Milko van Duijl as saying: “This move has allowed us to accelerate the pace of entering the Western European consumer market, especially the German market, while allowing us to leverage Medion’s strong market power to gain more growth opportunities.â€
Medion is one of Germany's largest personal technology and consumer electronics companies. After the transaction, Brachmann still holds about 18.33% of Medion shares.
Lenovo Group said in June that it plans to acquire Medion’s 36.66% stake for 231 million euros. This time to further increase the holding of Medion through the purchase of shares held by Brachmann.
Currently, mainland China is still the most important market for Lenovo Group. The acquisition of Medion shows Lenovo's ambition to further expand its business overseas. The deal was the largest purchase of Lenovo's personal computer business since Lenovo bought the company six years ago. Lenovo also announced this year that it will form a joint venture with NEC Corporation (6701.T: Quote) to jointly run the company in Japan. Personal computer business. (Finish)
--Reporter Huang Yuntao; Reviewing Ding Shuqin Reuters new mail product service - "Daily Financial Gathering", allows you to receive Reuters global financial information essence and the latest investment trends every morning. Please click here to open this service.
According to Lenovo, after completing the share purchase agreement with Medion Brachmann, the largest shareholder and founder of Medion, Lenovo Group held more than 51% of Medion shares through a wholly-owned subsidiary, Lenovo Germany Holdings. Has about 56% of voting rights for Medion.
The press release quoted the Lenovo Group’s mature market president Milko van Duijl as saying: “This move has allowed us to accelerate the pace of entering the Western European consumer market, especially the German market, while allowing us to leverage Medion’s strong market power to gain more growth opportunities.â€
Medion is one of Germany's largest personal technology and consumer electronics companies. After the transaction, Brachmann still holds about 18.33% of Medion shares.
Lenovo Group said in June that it plans to acquire Medion’s 36.66% stake for 231 million euros. This time to further increase the holding of Medion through the purchase of shares held by Brachmann.
Currently, mainland China is still the most important market for Lenovo Group. The acquisition of Medion shows Lenovo's ambition to further expand its business overseas. The deal was the largest purchase of Lenovo's personal computer business since Lenovo bought the company six years ago. Lenovo also announced this year that it will form a joint venture with NEC Corporation (6701.T: Quote) to jointly run the company in Japan. Personal computer business. (Finish)
--Reporter Huang Yuntao; Reviewing Ding Shuqin Reuters new mail product service - "Daily Financial Gathering", allows you to receive Reuters global financial information essence and the latest investment trends every morning. Please click here to open this service.
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