BYD Electronic announced on August 28th that on August 26th, the company entered into a purchase framework agreement with the seller, Jabil Circuit (Singapore) Co., Ltd. According to this agreement, the seller conditionally agreed to sell and the company conditionally agreed (by itself or its designated affiliated companies) to acquire 100% equity of Juno Newco Target Holdco Singapore Pte. Ltd. (the target company) for approximately $ 21.7 billion in consideration.
The target company is a privately held limited company registered in Singapore in August this year. After the restructuring is completed, it will have product manufacturing operations located in Chengdu and Wuxi, including the production of components for existing customers, which are carried out by the seller and its affiliates. As the target company is a newly registered entity, it has not engaged in any commercial activities and as of the announcement date, there are no significant assets or liabilities on its books.
Jabil was established in 1966 and is headquartered in Florida, USA. Jabil has over 100 factories worldwide and provides design, development, production, assembly, system technical support, and distribution services to customers around the globe in various fields such as computer peripherals, automation, and consumer products.