Core Viewpoint - The acquisition of Circuit Foil Luxembourg S.a.r.l. by Defu Technology has been terminated due to conditional approval from the Luxembourg Ministry of Economy, which imposed restrictions on voting rights and decision-making authority [2][4][5]. Group 1: Acquisition Termination - Defu Technology announced the termination of the acquisition of Circuit Foil Luxembourg, which was initially valued at €215 million, with a proposed purchase price of €174 million (approximately 1.4 billion RMB) [3]. - The conditional approval received included limitations on the investor's voting rights and decision-making powers, leading to the conclusion that the transaction could not be completed [5]. Group 2: New Acquisition Plans - Concurrently with the termination announcement, Defu Technology revealed plans to acquire at least 51% of Anhui Huiru Technology Co., Ltd. through cash purchase and capital increase [2][6]. - Anhui Huiru Technology, established in November 2021, has an annual production capacity of 20,000 tons of electrolytic copper foil, focusing on high-performance products for lithium batteries and electronic circuits [6][7]. Group 3: Market Context and Strategic Importance - The demand for high-end copper foil is increasing, driven by applications in AI servers, 5G communications, and other emerging technologies, highlighting the strategic importance of the acquisition for Defu Technology [3][7]. - The copper foil industry in China has been historically dominated by foreign companies, leading to significant trade deficits in high-end products, making the acquisition of domestic capabilities crucial for addressing supply chain challenges [3].
境外收购因未获无条件批准“流产” 德福科技再抛出一笔新收购事项