Brightex Enterprises and Ascendent Capital offered to take China Automation Group for $197m.

Brightex Enterprises, a leading distributor of electronic products in Hong Kong, and Ascendent Capital, a private equity firm, offered to take China Automation Group, a China-based company principally engaged in the provision of safety and critical control systems and control valves, for $197m. China Automation Group has been conducting a strategic review to develop its future business plans and strategies. The plan to delist from HKSE will give it more freedom to implement its long-term growth strategy.