Foxconn EV subsidiaries complete strategic investment in Europe Via Investing.com
TAIPEI – Dear Mr. Hai (TW:) Precision Industry Co., Ltd., commonly known as Foxconn (SS:), announced through its subsidiaries, Foxconn EV Singapore Holdings Pte. Ltd. and Foxconn EV Netherlands Holdings BV, the acquisition of shares in various companies as part of an investment strategy. The transaction, which took place on Monday, involves the purchase of shares in Foxconn EV Netherlands Axle System BV and ZF Foxconn Chassis Modules GmbH.
The total investment to acquire the shares of Foxconn EV Netherlands Axle System BV amounts to EUR 19,056,008, to acquire a 100% stake in the company Foxconn EV Netherlands Holdings BV This move is intended for long-term investment, without broker fees involved and without conflicting opinions. from directors reported.
In another transaction, Foxconn EV Netherlands Holdings BV also acquired a 50% stake in ZF Foxconn Chassis Modules GmbH from ZF Friedrichshafen AG, for a total of EUR 291,069,767 of ordinary shares. Additionally, one Class A preferred share was purchased for EUR 60,000,000. The preference shares come with an annual dividend of 3 months SOFR+2%. The terms of the preferred shares mean that they are convertible, and the actual conversion amount will be determined in accordance with the provisions of the Investment Agreement.
The investment in ZF Foxconn Chassis Modules GmbH also indirectly secured a 50% stake in ZF Chassis Modules (Shanghai) Co., Ltd., an entity located in China, with an investment amount not exceeding EUR 24,275,219.
This investment is part of Foxconn’s broader strategy to expand its footprint in the electric vehicle (EV) sector and is privately funded. The company’s board of directors decided on these activities, which are defined as long-term strategic investments. There were no dissenting opinions from the directors, and the transaction did not involve any change in the business model.
The investment represents a small part of the total assets of Foxconn and the equity created in the parent’s owners, the ratio of total assets is 0.39% and the value of shareholders is 0.84% of Foxconn EV Netherlands Holdings BV, and 0.38% and 0.81% respectively. with the investment of ZF Foxconn Chassis Modules GmbH.
This information is based on a press release issued by Hon Hai Precision Industry Co., Ltd. and does not include any promotional content or independent testing. The purpose of the report is to provide a factual account of the company’s recent investment activities.
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