On December 29, 2023, BYD announced that they had completed the acquisition of Jabil’s mobile electronics manufacturing business for a base purchase price of about RMB 15.8 billion (equivalent to US$2.2 billion) (subject to adjustments of cash, indebtedness and net working capital as of the closing). The acquired business will expand the customer and product boundaries of BYD Electronics, broaden the core supply chain of consumer electronics, and significantly improve the customer and product mix of BYD Electronics.
BYD Electronic (International) Company Limited (285.HK) is a global leading platform-based high-end manufacturing enterprise, covering diversified sectors including smart phones, tablet computers, new-energy automobiles, smart homes, game consoles, drones, internet of things, robots, telecom devices and medical devices. Jabil Inc. (NYSE: JBL) is a world-renowned manufacturing solutions provider with approximately 100 factory sites and 250,000 employees worldwide.
KWM has advised BYD in all aspects of the transaction, including deal structuring and planning, legal due diligence, regulatory approval analysis, anti-trust filing, transaction documents as well as the closing of the transaction. KWM teams collaborated closely across different jurisdictions and professional fields, fully showcasing their integrated advantage and service capabilities in major international and cross-border transactions.
This transaction is led by international partners Ling Huang and Seagull Song, together with a transaction team consisting of corporate international partners Owen Wang, Jason Xu and partner Fu Peng, Xinyu Liu and Huan Guo; compliance partners Susan Ning and Ting Liu, senior counsel Menghao Dai and counsels Ruohan Zhang and Tianjie Zhang; tax partners Bo Liu and Jun Kang; intellectual property international partner Gordan Gao and partner Mark Fu; banking and finance partner Shulin Sun and counsel Xueyao Chen; cross-border dispute resolution international partners Jessica Fei and Joanna Du; Hong Kong partner Gary Lock and counsel Eugene Lau; Singapore partner Jake Robson and special counsel Esther Yee. Other team members include Lan Li, Zixiao Yu, Teng Ma, Xiang Fei, Ying Chen, Quyuan Jin, Rui Gao, Mengyan Pei, Yinglun Zhang, Xiao Ma, Mo Wang, Hainan Jiang, Chunyang Zhang, Hazel Zhang, Sarah Ng, and Henry Zhang.
