A PYMNTS Company

China: Lighting firm takes step closer to LED packager buyout

By  |  October 9, 2013

Lighting product manufacturer China Electric Manufacturing Corp., which sells its products under the TOA name, announced Tuesday that its board of directors has voted to approve the 60 percent buyout of an LED chip packager in a $4.33 million deal.

According to reports, plans to acquire DIO Optoelectronics are part of a move for TOA to strengthen its position within the LED market.

GIO’s largest shareholder Chimei Corp also confirmed that a preliminary deal has been reached to sell its 40 percent control in the company.

While the deal remains subject to the Fair Trade Commission’s approval, the parties said they expect to close the deal by the end of the year.

Full Content: Taipei Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.