Jiangsu Olive Sensors High-Tech Co., Ltd. agreed to acquire a 37.5% stake in Bonaire Automotive Electrical Systems Co., Ltd. from Hanon Systems for approximately CNY 160 million.
February 16, 2023
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Jiangsu Olive Sensors High-Tech Co., Ltd. (SZSE:300507) agreed to acquire a 37.5% stake in Bonaire Automotive Electrical Systems Co., Ltd. from Hanon Systems (KOSE:A018880) for approximately CNY 160 million on February 16, 2023. Currently, Anhui Hongyi Automobile Technology Co., Ltd. holds 38.50% stake, Hanon Systems holds 37.50% stake and Xuqing Co., Ltd. holds 24% stake in Bonaire Automotive Electrical Systems. Following disposal of Hanon Systems' stake in Bonaire Automotive Electrical Systems, Jiangsu Olive will own 37.50% stake in it. Transaction is approved by Jiangsu Olive's board of directors,
JIANGSU OLIVE SENSORS HIGH-TECH CO., LTD is a China-based company principally engaged in the research and development, production and sale of automobile parts. The Company's products are categorized into three categories: sensors and accessories, accessories of fuel system, and automotive interior parts. The Companyâs sensors and accessories include fuel level sensors and accessories and water level sensors. The Companyâs accessories of fuel system include oil filler pipe assembly, imported control valves, vent valves, locking joint pipe assembly, filter brackets, locknuts, fuel pump fixed thimbles and lock rings for fuel pumps, among others. The Companyâs automotive interior parts include covers for airbag, dashboards and air-conditioning duct, among others. The Company distributes its products within domestic market and to overseas markets.
Jiangsu Olive Sensors High-Tech Co., Ltd. agreed to acquire a 37.5% stake in Bonaire Automotive Electrical Systems Co., Ltd. from Hanon Systems for approximately CNY 160 million.
JIANGSU OLIVE SENSORS HIGH-TECH CO., LTD. 
