A unit of Huazhong In-Vehicle (HKG:6830) agreed to purchase a further 15% equity interest in Ningbo Roekona-Zoeppritex-Tex-Line from Roekona Textilwerk for 4.5 million euros, a Thursday filing with the Hong Kong bourse said.
The target firm is currently 65% owned by buyer Ningbo Huazhong Automotive Decorative Parts Technology, 25% by Roekona Textilwerk and 10% by ZwissTex Germany. Following completion, the purchaser will hold an 80% stake in the target.
Ningbo Roekona-Zoeppritex-Tex-Line engages mainly in the manufacture and sale of auto parts, as well as the design and manufacturing of high-trade textiles.
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