Camel Group plans to participate in acquisition of Nissan Power Battery
2017-09-05 17:40:43 [Print]
Camel Group announced on Sep 4 that it has signed a cooperation framework agreement (“the Agreement”) on acquisition of Nissan Battery Corporation and cooperation with Camel Group new energy battery together with GSR CAPITAL Advisors, a subordinate of GSR Ventures, and the limited partnership of Hubei Changjiang Jinshajiang Industrial Investment Fund on September 1. In August, GSR CAPITAL Advisors signed an acquisition agreement with Nissan individually.
According to Camel, it (or its appointed company) will subscribe no more than USD100 million of Nissan Battery Corporation Merger and Acquisition Fund (“the Fund”) established by GSR CAPITAL Advisors. This acquisition will help to cultivate R&D and production team and perfect its current new energy battery production lines. According the Agreement, if the Fund plans to sell all of or part of China’s property subordinate to it, Camel or its appointed company still has the preemptive right.
The Agreement can contribute to docking of its new energy battery business with Nissan’s technology, achieve rapid improvement of technology and manufacturing technique in the power lithium battery field, expand market shares, and enhance the technical reserve in the next generation of fuel cell field.
According to Camel, it (or its appointed company) will subscribe no more than USD100 million of Nissan Battery Corporation Merger and Acquisition Fund (“the Fund”) established by GSR CAPITAL Advisors. This acquisition will help to cultivate R&D and production team and perfect its current new energy battery production lines. According the Agreement, if the Fund plans to sell all of or part of China’s property subordinate to it, Camel or its appointed company still has the preemptive right.
The Agreement can contribute to docking of its new energy battery business with Nissan’s technology, achieve rapid improvement of technology and manufacturing technique in the power lithium battery field, expand market shares, and enhance the technical reserve in the next generation of fuel cell field.
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