By Chalida Ekvitthayavechnukul
Of the total purchasing price, $32 million will be paid in cash upon closing and the remaining $3 million conditioned upon the PCB business’ financial performance in 2018.
Sunac invested 15b yuan in LeEco earlier this year.
Move is part of efforts by China’s government to revive state behemoths with private capital.
Genetic sequencing startup Geneseeq has closed Series C funding.
The deal is a spin-off Ossen Innovations’ existing business.
Morgan Stanley and Goldman Sachs led the $1.6b offer.
China’s mobile karaoke box operator Xingtang miniKTV raises $15 million during the first three months of its operation.
China Resources and Sinopharm Group are in the race too.
Tantech Holdings Ltd has completed its 70 per cent acquisition stake in Suzhou E Motors Co Ltd, while China Ceramics Co Ltd has closed private placement of its ordinary shares.
The deal is valued at $222 million.