TDK to Acquire Malaysia's Linergy Power for $241 Million; Shares Down 3%

MT Newswires Live05-20

TDK (TYO:6762) subsidiary Amperex Technology (Singapore) agreed to acquire a 100% stake in Malaysia's Linergy Power for $241.1 million.

The acquisition, approved by TDK's board on Tuesday, is scheduled for completion on June 15, according to a Tokyo bourse filing on Tuesday.

TDK said it aims to enhance its mid-capacity battery business by adding a "flexible global supply structure" to better respond to diverse customer needs.

TDK already holds a 25.5% stake in Linergy prior to the transaction.

Established in December 2024, Linergy manufactures lithium-ion rechargeable batteries.

TDK's shares fell over 3% in recent trade.

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