Shenzhen LDROBOT to Buy German Gardening Machinery Maker; Shares Up 6%
MT Newswires Live
35 mins ago
Shenzhen LDROBOT (HKG:1236) agreed to acquire 100% of German gardening machinery maker SABO-Maschinenfabrik GmbH for up to 6 million euros, according to a Wednesday Hong Kong bourse filing.
Shares of the firm were up over 6% in Thursday morning trade.
The transaction includes 1 million euros for the equity purchase and up to 5 million euros in capital support for the target's liquidity needs.
About 75% of the transaction will be funded by global offering proceeds and the remaining 25% by internal resources.
SABO, established in Germany in 1932, makes lawn mowers and other gardening tools and distributes through more than 1,400 specialist retailers across Europe, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.