Dongfang precision divests packaging units to Brookfield affiliates for €774m

Guangdong Dongfang Precision Science & Technology Co., Ltd. (Dongfang Precision) announced the sale of its 100% equity in Fosber S.p.A., Guangdong Fosber Intelligent Equipment Co., Ltd. (Fosber Asia), and Tiruña (Guangdong) Intelligent Equipment Manufacturing Co., Ltd. (Tiruña Asia) to Foresight US BidCo, Inc. and Foresight Italy BidCo S.p.A., affiliates of Brookfield Corporation. The total transaction value is €774,072,042, with a locked box mechanism set to December 31, 2024. This divestiture aligns with Dongfang Precision's strategy to enhance its focus on new quality productive forces, particularly in its marine power equipment and intelligent manufacturing sectors.

The transaction is classified as a significant asset restructuring based on 2024 financial data, with the divested assets representing 67.20% of the company's total operating revenue. The board confirmed compliance with regulatory requirements, including those for related party transactions, information disclosure, and internal control.

Dongfang Precision's stock price fluctuation was -3.16% in the 20 trading days before the announcement. After excluding market and industry factors, the adjusted fluctuation was 0.24%. The company will continue to adhere to information disclosure obligations and ensure the transaction progresses in a compliant and transparent manner.