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Stock impact report

Equity Acquisition of Nanyue Diankong (Hengyang) Industrial Technology [Yahoo! Finance]

China Yuchai International Limited (CYD) 
Last china yuchai international limited earnings: 3/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: cyilimited.com/home/ir.html
Company Research Source: Yahoo! Finance
solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited ("Yuchai"), wishes to announce that Yuchai has acquired 83,918,495 shares of Nanyue Diankong (Hengyang) Industrial Technology Company Limited ("NYDK"), representing a 27.97% equity interest, for a consideration of approximately RMB 176.2 million in cash. Following the acquisition, Yuchai has become the second-largest shareholder of NYDK. Yuchai has also entered into a concerted action agreement with Hunan Hengyang Auto Parts Factory, the largest shareholder of NYDK. This agreement enables Yuchai to secure operational control over NYDK, including, among other things, the right to nominate six out of nine directors on NYDK's board of directors and designate its general manager. The NYDK acquisition enhances Yuchai's supply chain in key components used in its powertrain solutions. NYDK is a national high-tech and industry leader specializing in fuel injection systems, inclu Show less Read more
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