LONDON (Thomson Financial) - LED International Holdings Ltd. said it is
buying New Shenzhen, a Chinese LED products maker, for HK$5.5 million cash and
shares.
LED International, the LED screen maker, said it will pay HK$3.0 million
cash over three years and issue 16 million new shares, worth HK$2.5 million, to
New Shenzhen.
LED International said the deal will broaden its product offering and give
it access to new intellectual property.
New Shenzhen made an aftertax profit of 70,000 pounds on sales of 652,000
pounds in 2007 and is trading in line with management expectations in the
current year, LED.
TFN.newsdesk@thomson.com
npr/wj
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