Chinese humanoid robot maker UBTech Robotics is moving to lock down key manufacturing capacity, agreeing to pay nearly 1.7 billion yuan (US$237 million) in cash to take control of Shenzhen-listed mechanical component maker Zhejiang Fenglong as it pushes to scale up humanoid robot production.
The two-stage deal will begin with UBTech acquiring a 29.99 per cent stake in Fenglong from existing shareholders for 1.16 billion yuan, followed by a voluntary partial offer to buy a further 13.02 per cent…
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