Joint venture between NVT HK and SZ Desay for the secondary battery pack business
First written in FY2021-Q3. 1 of 3 entries say "Restated". Latest entry: FY2022-Q1.
No other company in this theme has enough history to compare yet.
- FY2022-Q1DroppedAnnual report
「However, following discussions between the two companies, it was determined that a definitive agreement would be difficult to conclude because they were unable to reach agreement on the specific terms, and the decision to discontinue the discussions was made on 21 July 2021.」
Regarding the proposed joint venture between NVT HK and SZ Desay in the secondary battery pack business, the parties failed to agree on specific terms, and it was decided to discontinue discussions toward a definitive agreement. - FY2021RestatedAnnual report
「NVT HK’s ownership interest in the joint venture is planned to be capped at 49%, with SZ Desay owning the remainder. This business alliance is intended to strengthen the cooperation between the two companies through the joint venture and further enhance the competitiveness of their products in this field.」
For the proposed joint venture between NVT HK and SZ Desay in the secondary battery pack business, the maximum 49% ownership interest and the condition that a definitive agreement would follow discussions and due diligence were confirmed in the full-year disclosures. - FY2021-Q3First statedAnnual report
「NVT HK’s ownership interest in the joint venture is planned to be capped at 49%, with SZ Desay owning the remainder. This business alliance is intended to strengthen the cooperation between the two companies through the joint venture and further enhance the competitiveness of their products in this field.」
A memorandum of understanding was signed for a business alliance in the secondary battery pack business, including the establishment of a joint venture between NVT HK and SZ Desay. NVT HK’s ownership interest is planned to be capped at 49%; a definitive agreement will require further discussions and due diligence, and the memorandum itself is not legally binding.