Financial Wire

Dongfang Precision Completes Sale of Two Subsidiaries

-- Guangdong Dongfang Precision Science & Technology (SHE:002611) completed the sale of its entire holdings in two subsidiaries for 816.7 million euros, according to a Shenzhen bourse filing on Tuesday.

Foresight US BidCo acquired Guangdong Fosber Intelligent Equipment and Tiruña (Guangdong) Intelligent Equipment Manufacturing.

Foresight Italy BidCo also acquired Fosber from the company's unit, Dong Fang Precision (Netherlands) Coöperatief, as part of the deal.

The corrugated packaging manufacturer's shares rose 1% during the afternoon trade.

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