Cloud Network Technology Singapore, a subsidiary of Hon Hai Precision Industry Co., has acquired a stake in FII AMC Mexico S. de R.L. de C.V. for MXN 460 million ($460 million). The acquisition was approved by Hon Hai Precision Industry's board of directors and represents a capital increase in the subsidiary. Following the transaction, Cloud Network Technology Singapore holds a 99.9999999924% shareholding in FII AMC Mexico, with a cumulative monetary amount held of $702.72 million.
Acquisition Details
Focus PC Enterprises Limited holds the remaining 0.0000000076% stake valued at $0.05. The transaction is classified as a long-term investment and will be funded through private capital, representing 0.94% of total assets and 1.90% of owners’ equity based on the most recent financial statement.
Transaction Terms
The deal did not involve any broker fees or changes in business model, with no directors expressing dissenting opinions regarding the transaction. The transaction involved related parties within the Hon Hai Precision Industry corporate structure, with no restrictions on rights such as pledges applying to the shares held.