June 2004

Financial advisor to Danionics in establishing joint venture with GP Batteries

ATRIUM acted as exclusive financial advisor to Danionics in the establishment of a 50/50 joint venture with GP Batteries, Singapore.

Danionics produces rechargeable lithium-ion batteries for mobile phones and laptops. Danionics contributed with technology and production equipment to the joint venture, while GP Batteries contributed with new capital (USD 25 m) to continue development.

ATRIUM’s role included testing Danionics’ options with regard to moving the production facilities to China either independently or together with one or several partners. Simultaneously a sale of the company was investigated.
Due to Danionics’ challenging financial situation, a sustainable solution was highly prioritised by the shareholders, and several solutions were examined within a short period of time successfully ending with GP Batteries.

GP Batteries is among the world’s 10 largest battery manufacturers of alkaline batteries, and Danionics’ technology will complement GP Batteries’ product range, thereby giving them technological access to the part of electronics market with the highest growth.