On February 4, Japanese electronics and materials conglomerate Maxell made public its decision to sell Wuxi Maxell Energy Co., Ltd., its Chinese subsidiary specializing in the production of lithium-ion batteries. The buyer is Zhejiang Xinghuan Holding Co., Ltd., a wholly-owned entity under Galaxy Energy, with the transaction amounting to approximately RMB 48.96 million. Both the equity transfer and the overall deal are anticipated to reach completion within this month.
