Flextronics bids $365M for China capacity

SINGAPORE -- Singapore's Flextronics International is bidding $365 million for contract manufacturer NatSteel's NBL unit to boost its manufacturing operations in China.

NBL, or NatSteel Broadway Ltd, operates three plants in China's southern province of Guangdong and one in Shandong.

Flextronics is the world's No. 2 maker of electronic components for brand-name companies.

It said it would pay S$3.23 a share for NBL, for a total of about S$653 million or $365 million.

NatSteel holds 51.6 percent of NBL, while Ockham Holdings has a 21.2 percent stake. Both have undertaken to accept the offer.

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