Chinese Carmaker BYD to Buy US Jabil's Mobility Business for $2.2 bn

Chinese automaker BYD (002594.SZ) said on Monday its electronics unit has struck a deal with U.S.-based manufacturer Jabil Inc (JBL.N) to buy its mobile electronics manufacturing business in China for 15.8 billion yuan ($2.2 billion).

The deal will expand BYD Electronic's (BE) (0285.HK) customer base, product portfolio and its smartphone components business as it looks to capture Jabil's potential growth in the sector.

Singapore-based Jabil Circuit, which manufactures printed circuit boards, established a unit this month that absorbed its product-manufacturing businesses in Chengdu and Wuxi, which will now be sold to the Chinese group.