Nationstar To Acquire Guangdong Desheng for RMB 250 M

Nationstar announced Monday it will be acquiring electronic manufacturer Guangdong Desheng company, a wholly owned subsidiary of Guangsheng, for RMB 250 million (US $40.60 million).

The Chinese LED manufacturer signed a share transaction agreement with Chinese electronic manufacturer Guangsheng group, which will transfer Guangsheng’s share in the subsidiary to Nationstar.

Guangdong Desheng total assets reached RMB 84.23 million, net assets RMB 2.73 million and its net loss reached RMB 468,500 as of June 30, 2015.

Guangdong Desheng was established in July 2013 as one of Guangdong China Electronics Corporation projects in Nansha GEC industry park. The company is situated in Guangzhou Nansha Export Processing Zone. The project covers an area of about 160,000 square meters, and the building area is about 470,000 square meters.

In addition, the company’s largest shareholder Sigma-Aldrich also announced it would be spending more than RMB 10 million to increase its shareholdings in Nationstar in the next six months through the Shenzhen Stock Exchange System.

Nationstar will be resuming trade on China’s bourse on July 14, 2015.

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