Chinese Regulator Approves Xiaomi Investment in Appliance Maker Midea

Yicai, 5/22/15

The China Securities Regulatory Commission (CSRC) has approved Beijing-based Android device maker Xiaomi's plan to acquire 55 mln shares in consumer appliances and air conditioning systems manufacturer Midea Group (000333.SZ) for no more than RMB 1.27 bln.

An insider from Midea revealed that the partnership between the two companies is not exclusive. However, the two will have capital ties which will deepen their relationship and in the future Xiaomi will have a representative on Midea Group's board of directors.

Editor's Note: For more background on this topic, please see "Xiaomi to Invest RMB 1.2 Bln in Appliance Manufacturer Midea" MD 12/15/14 issue.

Keywords: smart appliance hardware CSRC Midea Xiaomi 000333.SZ M&A

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