Estun Automation Mulls Buyout of Robot Maker

MT Newswires Live

07/03

Estun Automation (HKG:2715, SHE:002747) said it was considering taking full control of Nanjing Estun Codroid Technology by buying out other shareholders, according to a Thursday filing with the Hong Kong bourse.

The firm said it could enter an all-cash deal to raise its stake in Codroid Technology from 13.95% to 100%.

A portion of Codroid Technology, a robot maker, is also owned by Estun's controlling shareholder Nanjing Primest.

The buyout will help deepen Estun's robotics business and streamline Codroid Technology's ownership structure.

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