Electronics Production | February 08, 2008
Flextronics acquires Friwo
Germany based CEAG AG, an international manufacturer of power supplies and chargers, is selling the FRIWO Mobile Power (FMP) business unit to a subsidiary of Singapore based Flextronics International Ltd.
The purchase price amounts to EUR 57.5 million on a cash-free/debt-free basis and is subject to customary working capital adjustments which could reduce the net proceeds CEAG will receive. The transaction is subject to the approval of the competent antitrust authorities and other customary closing conditions and is expected to close during the first half of 2008. Following the sale of its FMP business unit, CEAG will focus on its remaining FRIWO Power Solutions business unit.