BAIYU Holdings to Acquire Shenzhen Jintongyuan Energy Storage Technology
August 21, 2024
BAIYU Holdings, Inc. entered into a definitive share purchase agreement to acquire 100% of Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. for RMB 750 million (approximately US$105 million). The deal is expected to close in or around September 2024 and will expand BAIYU into the renewable energy storage battery market.
- Buyers
- BAIYU Holdings, Inc.
- Targets
- Shenzhen Jintongyuan Energy Storage Technology Co., Ltd.
- Industry
- Renewable Energy
- Location
- China
- Transaction Type
- Buyout
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