Jabil Sells Mobility Business To BYD for $2.2B
Portfolio Pulse from Lekha Gupta
Jabil Inc has agreed to sell its Mobility business to Chinese EV maker BYD Co., Ltd. for $2.2 billion. The business, which manufactures components for consumer electronics, is mainly located in China. The deal is expected to close within the first two-quarters of Jabil's FY24. The sale will allow Jabil to enhance its shareholder-centric capital framework, including incremental share buybacks, and provide opportunities for further investment in various sectors.
September 27, 2023 | 10:58 am
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POSITIVE IMPACT
BYD's acquisition of Jabil's Mobility business for $2.2 billion will expand the company's manufacturing capabilities in the consumer electronics components sector.
BYD's acquisition of Jabil's Mobility business will expand the company's manufacturing capabilities in the consumer electronics components sector. This could potentially increase the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Jabil's sale of its Mobility business to BYD for $2.2 billion will allow the company to enhance its shareholder-centric capital framework and provide opportunities for further investment in various sectors.
The sale of Jabil's Mobility business to BYD will provide the company with a significant cash influx, allowing it to enhance its shareholder-centric capital framework, including incremental share buybacks. This could potentially increase the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100