Estun Automation Mulls Buyout of Robot Maker

Estun Automation (HKG:2715, SHE:002747) said it was considering taking full control of Nanjing Estun Codroid Technology by buying out other shareholders, according to a Thursday filing with the Hong Kong bourse. The firm said it could enter an all-cash deal to raise its stake in Codroid Technology from 13.95% to 100%. A portion of Codroid Technology, a robot maker, is also owned by Estun's controlling shareholder Nanjing Primest. The buyout will help deepen Estun's robotics business and streamline Codroid Technology's ownership structure.