Lenovo Group announced on August 2 that the company’s wholly-owned subsidiary, Lenovo Germany Holdings, already holds a 51% stake in German PC maker Medion. The company purchased the above shares from Medion’s largest shareholder, founder and CEO Gerd Brachmann, and second largest shareholder Orbis.
Fit and profit and loss statement On June 1 of this year, Lenovo Group announced that it will acquire German Medion company for at least 55% and no more than 80% of the company's equity for 459 million to 666 million US dollars.
Lenovo announced yesterday that it has obtained approximately 56% of voting rights for Medion.
Lenovo plans to conclude a "control and transfer of profit and loss statement" (DPLTA) between Lenovo Germany Holdings and Medion, aiming to promote collaboration between the two companies and strengthen the overall competitive advantage of Medion and Lenovo. This is similar to the consolidated statements between domestic companies.
Lenovo said that the company currently holds more than 51% of Medion's shares (has about 56% of Medion's voting rights), and actress Brachmann still holds about 18.33% of the shares (having Medion about 19.86% of the voting rights). Lenovo and Brachmann have reached a consensus that the latter will vote for approximately 18.33% of Medion shares to support the DPLTA between the two companies, which will ensure that the DPLTA resolution between Lenovo and Medion is passed. The Medion Executive Board welcomes this and is happy to work closely with Lenovo on this matter.
DPLTA's specific terms and conditions, especially for minority shareholders to obtain sufficient guaranteed dividends and cash compensation, will be determined in the coming months.
Shipment hits the world The second Medion is one of the largest personal technology and consumer electronics companies in Germany. Lenovo is the third largest personal computer manufacturer in the world.
At present, Lenovo is vigorously developing mobile Internet services. This acquisition will help Lenovo expand the European consumer electronics market, especially the mobile Internet terminal market.
Milko van Duijl, president of Lenovo Group’s mature market, said: “This move has allowed us to accelerate the pace of entering the Western European consumer market, especially the German market, while allowing us to use Medion’s strong market power to gain more growth opportunities.â€
If Merged's statements are consolidated, the acquisition will bring about 2 billion euros in sales revenue to Lenovo Group, which will help Lenovo increase its share of the global PC market.
In early July, the market research company IDC issued a report that in the second quarter of 2011, Lenovo Group's shipments surpassed Acer as the world’s third-largest PC maker, with its market share rising to 12.2%, which is 12.9% higher than that of the second-ranked Dell. Market share lags slightly behind. IDC's statistics did not incorporate Medion’s revenue into Lenovo. Previously, Lenovo Group had completed the acquisition of the PC business of NEC, a Japanese PC manufacturer. Lenovo Group is expected to hit the second position of the global PC this year.
Fit and profit and loss statement On June 1 of this year, Lenovo Group announced that it will acquire German Medion company for at least 55% and no more than 80% of the company's equity for 459 million to 666 million US dollars.
Lenovo announced yesterday that it has obtained approximately 56% of voting rights for Medion.
Lenovo plans to conclude a "control and transfer of profit and loss statement" (DPLTA) between Lenovo Germany Holdings and Medion, aiming to promote collaboration between the two companies and strengthen the overall competitive advantage of Medion and Lenovo. This is similar to the consolidated statements between domestic companies.
Lenovo said that the company currently holds more than 51% of Medion's shares (has about 56% of Medion's voting rights), and actress Brachmann still holds about 18.33% of the shares (having Medion about 19.86% of the voting rights). Lenovo and Brachmann have reached a consensus that the latter will vote for approximately 18.33% of Medion shares to support the DPLTA between the two companies, which will ensure that the DPLTA resolution between Lenovo and Medion is passed. The Medion Executive Board welcomes this and is happy to work closely with Lenovo on this matter.
DPLTA's specific terms and conditions, especially for minority shareholders to obtain sufficient guaranteed dividends and cash compensation, will be determined in the coming months.
Shipment hits the world The second Medion is one of the largest personal technology and consumer electronics companies in Germany. Lenovo is the third largest personal computer manufacturer in the world.
At present, Lenovo is vigorously developing mobile Internet services. This acquisition will help Lenovo expand the European consumer electronics market, especially the mobile Internet terminal market.
Milko van Duijl, president of Lenovo Group’s mature market, said: “This move has allowed us to accelerate the pace of entering the Western European consumer market, especially the German market, while allowing us to use Medion’s strong market power to gain more growth opportunities.â€
If Merged's statements are consolidated, the acquisition will bring about 2 billion euros in sales revenue to Lenovo Group, which will help Lenovo increase its share of the global PC market.
In early July, the market research company IDC issued a report that in the second quarter of 2011, Lenovo Group's shipments surpassed Acer as the world’s third-largest PC maker, with its market share rising to 12.2%, which is 12.9% higher than that of the second-ranked Dell. Market share lags slightly behind. IDC's statistics did not incorporate Medion’s revenue into Lenovo. Previously, Lenovo Group had completed the acquisition of the PC business of NEC, a Japanese PC manufacturer. Lenovo Group is expected to hit the second position of the global PC this year.
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