State Grid Information & Communication (SHA:600131) has completed the industrial and commercial change registration for its acquisition of a 100% equity stake in SGCC Yili Technology, according to a Shanghai Stock Exchange filing on Friday.
The state-owned information communication equipment producer last month disclosed plans to acquire Yili Technology from its controlling shareholder, SGCC Information and Communication Industry Group, for 1.85 billion yuan.
The target company, established in December 2000, has a registered capital of 409.6 million yuan and is based in Xiamen City, China.
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