Recently, China Rare Earth (00769) announced that it will acquire 50.1% of Osram (China) Fluorescent Materials (joint venture company) at a price of 15.1325 million yuan. The JV Company is principally engaged in the manufacture and sale of fluorescent products. After the acquisition, China Rare Earth will hold 100% of the equity interest in the JV Company.
China Rare Earth said that the acquisition of the remaining equity of the JV Company from the Vendor is beneficial to the Group as the Group believes that the Chinese fluorescent materials market has commercial potential. The integration and enhancement of the Group's interests in the JV will provide the Group with a good opportunity to continue to strengthen its exposure to the fluorescent materials market and strengthen its competitiveness to expand its business coverage.
China Rare Earth said that the acquisition of the remaining equity of the JV Company from the Vendor is beneficial to the Group as the Group believes that the Chinese fluorescent materials market has commercial potential. The integration and enhancement of the Group's interests in the JV will provide the Group with a good opportunity to continue to strengthen its exposure to the fluorescent materials market and strengthen its competitiveness to expand its business coverage.
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