ABA Chemicals Corporation (SZSE:300261) agreed to acquire 75% stake in Jiangsu Jiannong Plant Protection Co., Ltd. from Jiangsu Jiannong Plant Protection Co., Ltd. for CNY 100 million on December 28, 2013. ABA Chemicals Corporation will use excess proceeds of CNY 100 million to acquire equity in Jiangsu Jiannong Plant Protection Co., Ltd. from Jiangsu Jiannong Agrochemical Co., Ltd. and to increase the capital of Jiangsu Jiannong Plant Protection Co., Ltd. After the completion of transaction, ABA Chemicals Corporation will holds 75% stake in Jiangsu Jiannong Plant Protection Co., Ltd. while Jiangsu Jiannong Agrochemical Co., Ltd. will hold 25% stake. The transaction has been approved by Board of Directors and shareholders of ABA Chemicals Corporation.

ABA Chemicals Corporation (SZSE:300261) completed the acquisition of 75% stake in Jiangsu Jiannong Plant Protection Co., Ltd. from Jiangsu Jiannong Plant Protection Co., Ltd. on January 20, 2014.