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COSTA MESA, CA -- TTM Technologies today announced the signing of definitive agreements with its minority partner, Shengyi Technology Co., under which TTM would sell its 70.2% equity interest in the SYE plant to Sytech and in return acquire the latter's 20% equity interest in the DMC plant.

The negotiated purchase prices valued SYE at 1 billion RMB (approximately $161 million USD) and DMC at 900 million RMB (approximately $145 million USD).

The pending transaction was reported by PCD&F last month. Both plants primarily manufacture conventional printed circuit boards and are located in Dongguan, China.

The transaction is expected to close by the end of the second quarter of 2013, subject to certain closing conditions between the parties and regulatory approvals. TTM anticipates the transaction will generate approximately $84 million net, and expects to use about $40 million of the proceeds to repay an intercompany loan to SYE.

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