[ET Net News Agency, 5 December 2017] China Fire Safety Enterprise (00445) said it
agreed to acquire about 99.41% equity interests in Pteris Global Limited from China
International Marine Containers (CIMC) (02039) and Shenzhen TGM Ltd. at a total of about
Rmb3,806.53 million.
Pteris is a company incorporated in Singapore. Pteris Group (including TianDa Group) is
one of the world's largest suppliers of passenger boarding bridges, a leading global
integrated solutions provider of airport facility equipment including airport logistic
systems (baggage handling and material handling) and ground support equipment and a
leading domestic provider of automated logistic systems.
China Fire also agreed to acquire 30% equity interests in Shenzhen CIMC-TianDa Airport
Support Ltd. from Lucky Rich Holdings Limited at about Rmb610.55 million.
TianDa is a company established in the PRC. TianDa Group is principally engaged in the
design and manufacture of passenger boarding bridges, ground support equipment. The TianDa
Group's ground support equipment business includes design and manufacture of apron bus.
As the proposed restructuring is effectively a share swap and Pteris will continue to be
a non-wholly owned subsidiary of CIMC after the proposed restructuring, there is no
disposal gain or loss of Pteris to be recorded by CIMC in its income statement. (HL)