Latest News:  
Beijing   Overcast/Cloudy    25 / 17 ℃  City Forecast

English>>China Business

Chinese PC maker Lenovo to buy Brazil CCE


08:24, September 07, 2012

BEIJING, Sept. 6 (Xinhua) -- Chinese computer maker Lenovo has said it will acquire Brazilian consumer electronics manufacturer CCE in order to increase its presence in the Latin American market.

Lenovo, the world's second-largest PC producer by sales, will pay 300 million reals (148 million U.S. dollars) in both cash and shares for a 100-percent stake in CCE, the company said late Wednesday.

The deal, scheduled to be completed by the first quarter of 2013, will more than double Lenovo's PC market share in Brazil, the world's third-largest PC market after China and the United States, according to Yang Yuanqing, chairman and CEO of the Lenovo Group.

The takeover will expand Lenovo's market share in Brazil from 3.6 percent to 7 percent in combination with that of CCE, whose revenues hit around 792 million U.S. dollars in 2011.

Roberto Sverner, CCE's founder and CEO, said the acquisition will make CCE's products more competitive and help increase the company's presence.

Lenovo and CCE's brands, as well as CCE's operations, will remain unchanged after the takeover, according to Lenovo.

News we recommend:
Amusement parks boost real estate market Survey shows SOE jobs are top choice CNOOC pushes ahead with Nexen acquisition
The Pain of a Pension Deficit Staying on Target More new grads opt for State firms
Treading Lightly for Fast Growth  Questions raised over stores' price war A fertile ground for overseas banks


Leave your comment0 comments

  1. Name


Selections for you

  1. Soldiers take part in military training in Hohhot

  2. Putin's tender moment: Fly high with cranes

  3. A Treasure Trove of Resources

  4. Wushu madness

  5. Spanish beauty sexy show

  6. Quadruplets' first day for school

Most Popular


  1. Commentary: Asian SMEs must plan for crisis
  2. US firms poison reputations of China start-ups
  3. Exams still fairest way for kids' school selection
  4. Quality better for box office than quotas
  5. Don’t hand over judgment to foreign media
  6. China, Japan can find path to more stable future
  7. Editorial: FDI rise possible

What's happening in China

Man buys 2,000 bucket meals to block KFC's door

  1. Sperm bank calls for more deposits
  2. Students get new desks after media attention
  3. Capital chomps $16m in shark fins every day
  4. Man burns himself after dispute with school
  5. Benz purchase puts orphanage in hot seat

China Features

  1. Exclusive:A probe into GM rice test
  2. How much we continue to pay for 'face saving? '
  3. Entering China's northernmost village
  4. Italy makes efforts to attract Chinese students
  5. Chinese economy not to suffer a hard landing

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture