Wednesday, December 7 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Dec 05
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    BorgWarner signs Equity Transfer Agreement with Hubei Surpass Sun Electric


    September 21, 2022 - Auto Business News

     

      (c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

      BorgWarner Inc. (NYSE: BWA), a United States-based automotive supplier, has signed an Equity Transfer Agreement with China-based Hubei Surpass Sun Electric (SSE), a company that manufactures electric motors.

      Under the Equity Transfer Agreement, BorgWarner has agreed to acquire SSE's Electric Vehicle Solution, Smart Grid and Smart Energy businesses.

      The deal has an enterprise value of up to RMB410m, of which around RMB267m is to be delivered at or soon after closing. The company is paying up to RMB143m that is likely to be paid in the form of contingent payments over approximately two years subsequent to the closing. The deal is subject to satisfaction of customary closing conditions and SSE shareholder approval. It is likely to be completed in the first quarter of 2023.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.