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Hefei Rongshida Sanyo Electric Co Ltd Announces Changes in Shareholding Structure

Tuesday, 13 Aug 2013 08:00pm EDT 

Hefei Rongshida Sanyo Electric Co Ltd announced that a China-based subsidiary of Whirlpool Corp will acquire all the 157,245,200 shares in the Company owned by Sanyo Electric Co Ltd and Sanyo Electric Co. (China) Ltd. for RMB 1,415,206,800 in total, and also acquire 233,639,000 shares in the Company through private placement for RMB 1,985,931,500 in total. Therefore, the China-based company will hold a 51% stake in the Company, while Sanyo Electric companies will hold no stake in the Company 

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