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Article: China's Lenovo Group acquires IBM's PC business (more added)
- Article from:
- Xinhua News Agency
- Article date:
- December 8, 2004
CopyrightCopyright 2004 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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China's Lenovo Group acquires IBM's PC business (more added)
BEIJING, Dec. 8 (Xinhua) -- China's personal computer giant Lenovo
Group Limited Wednesday signed an agreement with IBM to take over the
latter's personal computer business for 1.25 billion US dollars.
According to the agreement, Lenovo will acquire IBM's entire
global desktop and laptop computer research and development and
manufacturing business. In return, Lenovo will pay IBM 650 million US
dollars in cash and grant it 600 million US dollars worth of Lenovo
stocks, which will make IBM an owner of around 18.5 percent of
Lenovo's equity stake.
After the transaction is completed, Lenovo Holdings will keep
around 45 percent ...