Jabil to Sell Manufacturing Business in China to BYD Subsidiary for $2.2 Billion

Jabil reached an agreement to sell its manufacturing business in China to BYD Electronic, a subsidiary of Chinese electric-vehicle maker BYD, in a deal valued at about $2.2 billion.

In a statement, Jabil said the sale of its mobility business would be the largest in the history of the contract electronics manufacturer. “If completed, the proceeds from this transaction will enable us to enhance our shareholder-centric capital framework, including incremental share buybacks,” said CEO Kenny Wilson. “Additionally, it will provide opportunities for further investment in electric vehicles, renewable energy, healthcare, AI cloud data centers, and other end-markets.

BYD Electronic’s businesses range from smartphones, tablet PCs, new-energy vehicles, robots and communications equipment.

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EV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion By ReutersEV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

EV maker BYD buys Jabil's China manufacturing business for $2.2 billionElectric vehicle maker BYD Co Ltd said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's Singaporean unit to buy its product manufacturing business in China for 15.8 billion yuan ($2.17 billion).
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »