Deal Snapshot
CBAK Energy to Acquire Majority Stake in Chinese Lithium Battery Material Supplier Zhejiang Meidu
Tuesday 27 July 2021

China-based lithium-ion battery manufacturer CBAK Energy Technology, Inc's (NASDAQ: CBAT) Dalian CBAK Power Battery Co., Ltd subsidiary has entered into a framework agreement to acquire a majority stake in Chinese lithium-ion battery material supplier Zhejiang Meidu Hitrans Lithium Battery Technology Co, the company said.

CBAK Power will acquire 81.56% of the equity interests of Hitrans currently held by Zhejiang Meidu Graphene Technology Co. and Hitrans's management shareholders for an aggregate consideration of approximately RMB 158.74m (approximately USD 24.5m).

Date Published: 27/07/2021