SHANGHAI, Jun. 29 (SMM) – China's Wolong Electric Group entered a share transfer agreement with Liaoning Rongxin Power Electronic on June 28, according to Wolong Electric Group’s announcement.
Wolong Electric Group proposed to acquire 84.91% stake in Rongxin Power Drives Technology, 80.01% stake in Rongxin Gaoke Electric and 90.00% stake in Rongxin Motor Control Technology. The three companies are subsidiaries of Rongxin Power Electronic. The offering price is expected to be 219.8 million yuan ($ 33.04 million).
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