Lenovo provides to purchase out Germany's Medion for $671 million

HONG KONG: Lenovo Group, China's most significant maker of individual computers, supplied to purchase look after of Germany's Medion for 466 million euros ($671 million) in its most significant acquisition contemplating the fact that purchase of worldwide celebration Machines's PC celebration an ideal offer much more than 6 many years ago.

The chinese language courses celebration will acquire a 37% stake from Medion Chairman Gerd Brachmann for 13 euros a write about by utilizing money and stock, and will extend the cash provide to remaining shareholders, Lenovo mentioned on Wednesday. Brachmann will sustain an 18% holding.

Medion jumped as an ideal offer as 20% in Frankfurt trading. The offer will help the maker of Thinkpad laptops surpass Apple in PC income in western Europe, as Lenovo actions up expansion outside China to be successful market place write about from Hewlett-Packard , Dell and Acer. Lenovo could possibly acquire an ideal offer more firms shortly after the Medion transaction , which follows programs this yr to type a opportunity with Japan's NEC Corp. (6701), Chief Executive Officer Yang Yuanqing said.

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