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October, 28, 2016

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Computer maker Lenovo to buy Brazil electronics manufacturer

SHANGHAI -- Chinese computer giant Lenovo said it would acquire Brazilian consumer electronics manufacturing group CCE, in an attempt to tap new markets.

Lenovo will pay 300 million reals (US$147 million) for 100-percent ownership in three firms that make up CCE to complete the acquisition, according to a Lenovo statement posted on its website late Wednesday.

The Chinese firm sees growth potential in the Brazilian consumer electronics market and aims to enhance its presence in Latin America through the deal.

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