Apex to Acquire Seine’s Consumable Business

Today, Static Control Components, Inc. (“Static Control”) and Apex Microelectronics Co., Ltd (“Apex”) has announced a strategic merger between the two companies.

Also announced today is that Apex plans to purchase its controlling shareholder Seine Technology Co., Ltd’s (Seine’s) print consumable business through issuing share. The trading value is RMB2.25 billion (US$ 362 million) with RMB20.49 per share and the number of total issuing share is expected to be 109.8097 million.

According to the plan, the trading assets include all Seine’s print consumables operational assets and debts, a 100% stake of Seine’s print consumable subsidiaries, including Alitec Technology Co., Ltd, Ninestar Management Co., Ltd, Zhuhai G&G Digital Technology Co., Ltd, Ninestar Image Tech Ltd, Seine (Holland) B.V and Seine Tech (USA) Co., Ltd.

After the deal, Seine, with 68.74% share in the group, will still be the controlling shareholder.