The United States spent 3.3 billion! Finally officially completed the acquisition of Toshiba Appliances

[PConline News] On June 30, 2016, Midea issued an announcement on its official website to officially announce the completion of the transaction on the Toshiba appliance business. This also means that the equity transfer transaction was officially completed.

Toshiba and Midea announced the signing of the final agreement for the transaction on March 30, 2016. Midea will acquire an 80.1% stake in Toshiba Lifestyle Products & Services Corporation ("TLSC"), a Toshiba appliance business subsidiary. As of June 30, 2016, all the prerequisites for the conclusion of the transaction in the final agreement have been met, and all regulatory approvals have also been passed. The final transaction price of 80.1% equity was 51.4 billion yen (approximately 3.32 billion yuan).

In addition to the equity transfer transaction and the strategic alliance between the U.S. and Toshiba Appliances, the most important thing is that U.S. will receive a 40-year global license from Toshiba brand, obtain more than 5,000 patents related to home appliances and be authorized to use it. Other home appliances related patents held by Toshiba. With the brand value of Toshiba and many patents on home appliances, Midea's future development deserves continued attention.

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