Shanghai Feile Audio Co., Ltd. (referred to as "the company") received approval for its strategic acquisition at the 24th meeting of the 10th Board of Directors on May 16, 2017, and at the 2016 Annual General Meeting of Shareholders held on June 7, 2017. The proposal involved acquiring a 20% stake in Feilo Malta Limited and 100% of the shares in Havells Sylvania (Thailand) Limited. Under the agreement, the company would pay €34.5 million for the 20% stake in Feilo Malta Limited and €1.6 million for 100% ownership of Havells Sylvania (Thailand) Limited. The company also agreed to sign the relevant equity purchase agreements and complete all necessary procedures. For more details, please refer to Announcement No. 2017-032 and Announcement No. 2017-041.
On May 26, 2017, the company entered into an Equity Purchase Agreement with Havells Holdings Limited, Inesa UK Limited, Feilo Malta Limited, and Havells India Limited to acquire the 20% stake in Feilo Malta Limited. Additionally, several of the company's subsidiaries—including Feilo Sylvania Asia Pacific Limited, Flowil International Lighting (Holding) BV, Feilo Sylvania Europe Limited, and Thai Lighting Asset Company Limited—alongside Havells International Ltd. and individual Mr. Poomthep Malakul Na Ayudhaya, signed the agreement to acquire 100% of the shares in Havells Sylvania (Thailand) Limited.
By November 30, 2017, the transaction was fully completed. Following the successful closure, the company now holds 100% ownership in both Feilo Malta Limited and Havells Sylvania (Thailand) Limited. This move marked a significant step in expanding the company’s international presence and strengthening its position in the global lighting market.
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