Today, the official website of the State Administration for Market Regulation announced the list of unconditionally approved cases of concentration of undertakings from February 4 to February 17, 2024. in,Including the case of operators such as Huawei Technologies Co., Ltd. and Chengdu High-tech Investment Group Co., Ltd. acquiring the equity of TD Tech Co., Ltd.It is understood that in January this year, the State Administration for Market Regulation announced relevant information about the equity acquisition of TD Tech.
After the transaction,Huawei, Chengdu High-tech Investment Group Co., Ltd., Chengdu High-tech Jicui Technology Co., Ltd., Huagai Venture Capital Management (Beijing) Co., Ltd. and other operators will collectively hold 100% of the equity of TD Tech through their jointly established holding companies and jointly control TD Tech.
In April 2023, the news that Oriental Materials planned to acquire the equity of TDTECH attracted attention in the industry.
Disclosure documents show that it is planned to raise no more than 2 billion yuan in additional capital to acquire 51% of TDTECH’s equity from Nokia’s wholly-owned subsidiary NSN (transaction consideration is 2.122 billion yuan).
In December of the same year, Oriental Materials announced that it had reached a settlement with Nokia on the acquisition of 51% of TDTECH's equity and terminated the transaction.
The core reason for the termination of this transaction was that Huawei, the remaining 49% equity holder of TDTECH, refused to jointly operate TDTECH with Oriental Materials.
Information shows that TDTECH is TD Tech Co., Ltd., which was first established as a joint venture between Huawei and Siemens. Huawei holds 49% of its shares and Nokia holds 51%.