China photoelectric holdings acquisition of LED business agreement failure

Chinese photoelectric Holdings (01332.HK) announced the agreement, the proposal to cost 496 million yuan acquisition of LED ---High Gear Holdings Limited business all equity has expired, reason is the expected association prerequisites will not be reached before the deadline on.

It is reported that, High Gear Limited in China mainly engaged in LED epitaxial wafer and display chips, backlight chips, high brightness high-power lighting chips and semiconductor lighting products R & D, production and distribution of Holdings.

The company will continue to identify and explore potential growth projects and investments (including, but not limited to, LED lighting services) for the acquisition of "green".

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