Ningbo Joyson acquires German company Preh

Dear Colleagues,

We are pleased to announce that Ningbo Joyson Group's acquisition of a majority stake in the globally renowned automotive parts supplier Preh was completed on June 27, 2011.

Joyson Investment Group Co., Ltd., a private automotive electronics supplier based in Ningbo, China, acquired 74.9% of the shares of German automotive parts supplier Preh in this merger, thus forming a company with sales exceeding 500,000,000 euros (approximately 725,000,000 USD). The German private equity firm Deutsche Beteiligungs AG will continue to hold 25.1% of the shares.

Preh is a group of automotive component suppliers located in Bavaria, Germany, primarily engaged in air conditioning control systems, driver control systems, sensors, and instrument clusters. Its most representative products include BMW iDrive and Audi MMI. In 2010, Preh achieved sales of approximately 350,000,000 euros and had more than 2,500 employees.

Eurasian Consulting GmbH served as the sole M&A advisor to Joyson Group throughout the entire transaction.

Links to media reports:

FT Chinese http://www.ftchinese.com/story/001038060

Zhejiang Satellite TV http://www.cztv.com/s/2010/zjnews/replay/2011/07/2011-07-272017616.htm

Zhejiang Business and Economy Network http://www.zjjm.gov.cn/zl/mxqy/2011/07/26/12024.shtml

Automobile Industry http://www.automobil-industrie.vogel.de/zulieferer/articles/311009/