Lenovo to buy 37 pc of Medion for 231 mn euros

CALIFORNIA, USA: Lenovo Group Ltd , the world's No.4 PC brand, will buy 36.66 per cent of German consumer electronics wholesaler Medion AG at 13 euros per share in a deal worth 231 million euros ($340 million), it said on Wednesday.

The deal, when completed, would give the Chinese brand a 7 per cent share of western Europe's PC market, Lenovo said in a statement to the Hong Kong stock exchange.

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The price represents a 17.6 per cent premium over Medion's last traded share price of 11.05 euros.