The two companies announced TCL sold to the French company at a price of 1 billion 690 million yuan

The electrical company TCL group to sell its news finally confirmed. TCL group announced yesterday that the company intends to 1 billion 457 million yuan and $234 million to sell TCL's Huizhou International Electrical and intelligent buildings.

TCL group, intends to sell its direct and indirect holding 80% of the two companies - International Electrical and intelligent building company to Legrand, the company system in electrical and information network and products in the field have a leading position. The total transfer price of the two companies reached 1 billion 690 million yuan, of which the International Electrotechnical transfer price of $1 billion 457 million, the transfer price of intelligent buildings is $234 million. The transfer price will be allocated by the original shareholders of the two companies in accordance with the shareholding ratio, which will be 80% TCL group.

Reporters yesterday inquiry TCL International Electrical and intelligent buildings last year, found that the international electrician at the end of 2004, its net assets of only 136 million yuan, while the smart building is only $about 20000000. Yesterday announced the sale price of TCL, but higher than the net assets of the two companies more than 10 times. It is reported that the 100% stake in the two companies Legrand, has signed a contract with TCL, the only need to perform the next step procedures.

High prices to sell the two companies, the industry analysis, willing to make such a high price to buy, it is the subject of the company's asset quality and business prospects are recognized by the transferee.

"To put a piece of business with the sale of good quality, the management to reverse the operating status of the determination; in addition, the company will sell two to a certain extent, improve the group's cash flow situation, industry researcher Wang Guoping believe that this analysis.

Some speculation against the outside world, TCL board of directors He Zhihua denied this. He Zhihua said the company sold the two companies, not because of the funding strand breaks, but the company's further integration of its assets.