Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
Sweden’s Sandvik said on Tuesday it has agreed to buy a majority stake in China-based Suzhou Ahno Precision Cutting Tool Technology.
Sandvik, which already owns a 12.4% stake in the company, said in a statement it will through the deal raise its stake to 72.4%, and that the enterprise value for the acquired stake is 189 million euros ($202 million).
The impact on Sandvik’s earnings per share, excluding non-cash amortization effects from business combinations, will be positive, it said.
Sandvik is buying the stake from current majority owner Ningbo Baosi Energy Equipment and related parties.
($1 = 0.9374 euros)
(By Anna Ringstrom; Editing by Stine Jacobsen)
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