Internet giant Google has acquired bought a near 6% stake in Chinese major smartphone, tablet and PC maker Lenovo for $750m (£459m), according to a disclosure on the Hong Kong stock exchange.
Google acquired 618.3 million Lenovo shares at $1.213 per share on January 30, the stock exchange said late on Thursday.
Last month Lenovo and Google entered into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility Smartphone business.
The purchase price is approximately US$2.91 billion (subject to certain adjustments), including US$1.41 billion paid at close, comprised of US$660 million in cash and US$750 million in Lenovo ordinary shares (subject to a share cap/floor). The remaining US$1.5 billion will be paid in the form of a three-year promissory note. |