Shanghai Feile Audio Co., Ltd. (hereinafter referred to as "the company") received approval for its acquisition plans at two key meetings: the 24th meeting of the 10th Board of Directors on May 16, 2017, and 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. Specifically, the company agreed to pay €34.5 million for a 20% ownership in Feilo Malta Limited and €1.6 million to fully acquire Havells Sylvania (Thailand) Limited. The transaction was finalized through the signing of relevant equity purchase agreements and the completion of 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 several parties, including Havells Holdings Limited, Inesa UK Limited, Feilo Malta Limited, and Havells India Limited, to secure a 20% stake in Feilo Malta Limited. Additionally, subsidiaries of the company—Feilo Sylvania Asia Pacific Limited, Flowil International Lighting (Holding) BV, Feilo Sylvania Europe Limited, and Thai Lighting Asset Company Limited—as well as 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 company had successfully completed the transaction. Following the delivery, the company now holds 100% ownership in both Feilo Malta Limited and Havells Sylvania (Thailand) Limited. This strategic move marked a significant step in expanding the company’s international presence and strengthening its global operations in the lighting industry.
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