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TAIPEI - Hon Hai (TW:2317) Precision Industry Co. Ltd., through its subsidiary iCana Holdings Ltd., has fully acquired iCana Ltd. for a total transaction amount of NTD 405,536,870, the company announced on Friday. The transaction, involving common shares, was part of a capital increase for the subsidiary, with the deal occurring on the same day.
The acquisition was carried out without a cash investment, instead involving parent and subsidiary companies. The board of directors decided on the transaction, which did not involve any brokers or fees. The move is described by Hon Hai as a long-term investment, with no dissenting opinions from the directors.
With the completion of this transaction, iCana Holdings Ltd. now holds 100% of iCana Ltd., with no restrictions on rights. This investment represents a small fraction of Hon Hai’s total assets and owners’ equity, with ratios of 0.060% and 0.132% respectively.
The acquisition is part of Hon Hai’s strategic investments, utilizing self-owned funds. The company has not disclosed any changes to its business model as a result of this transaction, and there have been no reports of dissenting opinions among the directors regarding this deal.
This information is based on a press release statement.
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