Deals13 Apr 2025, 12:31 am
Symphony Ltd's GSK, China to Sell Tech Know-how & IPRs to IMPCO, Mexico for USD 5.1 Million
AI Summary
The Board of Directors of Symphony Ltd took note of the sale of Technology Know-how and some Intellectual Property Rights (IPRs) by Guangdong Symphony Keruilai Air Coolers Co. Ltd., China (GSK) to IMPCO S de R.l.de C.V., Mexico (IMPCO) for approximately USD 5.1 million. The net sales proceeds will be used by GSK, China to repay its loan to Symphony Limited, India. This transaction will make GSK, China a debt-free company. The transaction pertains to monetizing the proprietary technology know-how and nine IPRs specifically developed by GSK, China for the Mexican market. GSK, China will continue to retain a substantial product portfolio and IPRs for its core domestic and key international markets.
Key Highlights
- GSK, China to sell technology know-how and IPRs to IMPCO, Mexico for USD 5.1 million.
- Net sales proceeds to be used by GSK, China to repay its loan to Symphony Limited, India.
- Transaction will make GSK, China a debt-free company.
- Transaction pertains to monetizing proprietary technology know-how and nine IPRs for the Mexican market.
- GSK, China to retain substantial product portfolio and IPRs for core domestic and key international markets.