Torkomian ALV, Santos MER, Soares TJCC
. (2016) The Innovation Law, the creation of technology transfer offices, and their impact on the Brazilian innovation landscape.
The stock was sold by TJCC Holdings Limited and its purchase has left Joy Global with an IMM stake of about 69.2%.
The company said that the offer would be made by Joy Global Asia Limited, its wholly owned subsidiary based in Hong Kong.Country: China, Hong Kong, Sector: Machinery/EngineeringTarget: International Mining Machinery Holdings Limited Buyer: Joy Global IncVendor: TJCC Holdings LimitedDeal size in USD: 584mType: StakebuildingStatus: Closed
Joy Global said that China's Anti-monopoly Bureau of the Ministry of Commerce has approved the acquisition from TJCC
Holdings Limited of its 41.1% shareholding in IMM at a price of HKD8.50 per share, or approximately USD584m at current exchange rates.
Under the agreement announced in July 2011, Joy Global will purchase the IMM stake from TJCC Holdings Limited at HKD8.5 (USD1.09/EUR0.84) a share, or some USD584m (EUR448.1m) in total, the buyer said in a statementl.
The offer documents will need to be approved by the Hong Kong Securities and Futures Commission, the buyer said, adding it willA launch the offers through its local unit Joy Global Asia Limited.Country: China, Sector: Machinery/Engineering, Metals/MiningTarget: International Mining Machinery Holdings Ltd (IMM)Buyer: Joy Global IncVendor: TJCC Holdings LimitedDeal size in USD: 584mType: Corporate acquisitionStatus: Bidding, AgreedComment: Deal size refers to the 41.1% stake.
The move comes after Joy Global struck a deal on 14 July to buy 41.1% in IMM from TJCC
Holdings Limited, subject to approval by the Chinese authorities, the buyer said in a statement.