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Details of TCL Computer Sale Announced
Beijing Times, 12/01/07
Yesterday evening, a notice issued by TCL Corporation (000100.SZ) stated that Changda Technology Industries will pay RMB 40 mln to the TCL Corporation and RMB 20 mln in capital to TCL Computer for an 82% stake in TCL Computer. Under the agreement, Changda may use the TCL brand name in its computer business for three consecutive years without fees and for a fee of 0.75% of revenues thereafter.
Wang Daoyuan, Changda company controller and current director of TCL Communication Technology (2618.HK), holds shares worth RMB 548 mln in TCL Communication.
Keywords: TCL Corporation, 000100.SZ, TCL Computer, Changda Technology Industries, M&A, computer, branding, Wang Daoyuan, TCL Communication Technology, hardware, 2618.HK
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