Huawei, Chengdu Hi-tech Investment Group and others jointly plan to fully acquire TD Tech while continuing to cooperate with Nokia

The State Administration for Market Regulation issued a public notice this morning, involving a case involving Huawei Technologies Co., Ltd., Chengdu High-tech Investment Group Co., Ltd. and other operators' acquisition of equity interests in TD Tech Communications Co., Ltd.

The specific transaction overview is: Huawei and Chengdu Hi-Tech Investment Group and other operators plan to jointly acquire 100% of the equity of TD Tech. TD Tech mainly Engaged in the research, development and promotion of industry customer communication solutions. Before this transaction, Huawei and Nokia Solutions and Networks GmbH&Co.KG (referred to as Nokia) indirectly held 100% of the equity of TD Tech and jointly controlled TD Tech.

After the completion of the transaction, Huawei, Chengdu Hi-Tech Investment Group, Chengdu Hi-Tech Jicui Technology Co., Ltd. (Chengdu Jicui) and Huagai Venture Capital Management (Beijing) Co., Ltd. (collectively, together with its related entities, are referred to as Huagai) The jointly established holding company will collectively hold 100% of the equity of TD Tech and jointly control TD Tech.

This site noticed that this is not the first time that TD Tech has become a target company.

#On April 9, 2023, Oriental Materials announced that it plans to acquire TD TECH (TD TECH) held by communications giant Nokia through private placement. Bridge Communications) 51% equity, the transaction consideration is 2.1216 billion yuan. Huawei issued a statement that evening, saying that it had no intention or possibility to jointly operate TD Tech with New Oriental New Materials.

In September 2023, New Oriental New Materials Co., Ltd. issued an announcement in which it mentioned that it had received a notice from NOKIA to terminate the sale of 51% of TD TECH’s equity. In response to this situation, the company decided to actively promote the follow-up matters of the termination of the transaction, and stated that it would take necessary legal measures according to the specific circumstances to safeguard the legitimate rights and interests of the company and its shareholders.

In December 2023, Oriental Materials announced that the company had reached a settlement with Nokia on the acquisition of 51% equity of TD TECH HOLDING LIMITED, terminated the transaction, and signed a "Settlement Agreement" with it.

Related reading:

"Nokia terminates the sale of TD Tech's 51% stake to New Oriental New Materials, Huawei previously expressed opposition"

"Huawei strongly opposed, Oriental Materials announced the termination of the acquisition TD Tech owns 51% of the shares and reached a settlement with Nokia》

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