BYD Electronic (International) Company Limited (SEHK:285) entered into the preliminary acquisition agreement to acquire Product manufacturing business located in Chengdu and Wuxi from Jabil Circuit (Singapore) Pte. Ltd. for CNY 15.8 billion on August 26, 2023. BYD Electronic (International) Company Limited (SEHK:285) signed the definitive agreement to acquire Product manufacturing business located in Chengdu and Wuxi from Jabil Circuit (Singapore) Pte. Ltd. on September 26, 2023. The Purchase Price will be subject to a customary completion accounts adjustment mechanism, with pre-closing and post-closing adjustments for cash, indebtedness, and net working capital. BYD Electronic (International) Company Limited board of directors approved the transaction. The transaction is subject to the completion of Reorganization, the execution of the Definitive Agreements the satisfaction (or, if applicable, waiver) of various conditions precedent and as such, which may also be conditional upon fulfillment of a number of Closing Conditions. The parties have agreed to enter into a customary intellectual property license agreement and a customary transition services agreement. The Purchase Agreement also contains customary warranties made by the parties, and customary pre-closing covenants, including (i) by Seller to operate the Business in the ordinary course consistent with past practice, subject to actions required or permitted by the Purchase Agreement and (ii) by the parties to use commercially reasonable endeavors to cause to be done all things necessary, proper or advisable to consummate the transactions set forth in the Purchase Agreement as promptly as practicable. The transaction is anticipated to close within the first two quarters of Jabil?s current fiscal year 2024 (which is the period from September 1, 2023 through February 29, 2024), and is subject to closing conditions, including required regulatory approvals, RBC Capital Markets, LLC and Goldman Sachs & Co. LLC acted as financial advisor to Jabil Circuit (Singapore) Pte. Ltd.

Allison R. Schneirov and Alexandra J. McCormack of Skadden, Arps, Slate, Meagher & Flom LLP and Jonathan B. Stone of Skadden, Arps, Slate, Meagher & Flom acted as legal advisors to Jabil Inc., parent of Jabil Circuit (Singapore) Pte. Ltd. Seagull Song, Owen Wang, Fu Peng, Bo Liu, Jun Kang, Gordon Gao, Mark Fu, Susan Ning, Ting Liu, Shulin Sun, Jessica Fei, Xinyu Liu and Huan Guo; Hong Kong partner Gary Lock, Singapore partner Jake Robson of KWM has advised BYD in all aspects of the transaction, including deal structuring and planning, legal due diligence, regulatory approval analysis, and drafting and negotiation of transaction documents, fully showcasing KWM?s integrated advantage and service capabilities in major cross-border transactions across different jurisdictions and professional fields.

BYD Electronic (International) Company Limited (SEHK:285) completed the acquisition of Product manufacturing business located in Chengdu and Wuxi from Jabil Circuit (Singapore) Pte. Ltd. on December 29, 2023. After adjustments the consideration is determined to be approximately CNY 14.29 billion.