Guangzhou Environmental Protection Investment Group Co.,Ltd. agreed to acquire 9.85% stake in Guangxi Bossco Environmental Protection Technology Co.,Ltd. from Wang Shuangfei, Song Hainong, Yang Qifeng, and Xu Kaishao for approximately CNY 500 million.
January 02, 2021
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Guangzhou Environmental Protection Investment Group Co.,Ltd. agreed to acquire 9.85% stake in Guangxi Bossco Environmental Protection Technology Co.,Ltd. (SZSE:300422) from Wang Shuangfei, Song Hainong, Yang Qifeng, and Xu Kaishao for approximately CNY 500 million on December 28, 2020. Parties to the transaction signed agreement on December 31, 2020. Guangzhou Environmental Protection Investment will acquire 40 million shares at an offer per share of CNY 12.60. Within 15 working days after the agreement is effective, Guangzhou Environmental Protection Investment will make a one-time payment. Guangzhou Environmental Protection Investment Group Co.,Ltd`s Board has approved the transaction. In a related transaction, Wang Shuangfei agreed to transfer 11.09% stake in Guangxi Bossco to Guangzhou Environmental Investment. On January 11, 2021, State-owned Assets Supervision and Administration Commission of Guangzhou Municipal Government has approved the transaction. On January 26, 2021, the Guangxi Bossco Environmental Protection Technology received Decision on No Implementation of Further Review on Business Concentration Anti-monopoly issued by the State Administration for Market Regulation. On February 1, 2021, the Shenzhen Stock Exchange confirmed the applicant transfer of 40 million shares in accordance with the transfer price of CNY 12.60 per share agreement. The validity period of this confirmation opinion is six months.
Anhui Bossco Environmental Protection Technology Co Ltd, formerly Guangxi Bossco Environmental Protection Technology Co Ltd, is a China-based company mainly engaged in providing comprehensive solutions for comprehensive environmental management in multiple fields. The Company's business includes comprehensive environmental management business; environmental protection equipment manufacturing and sales business; water plant, sewage treatment plant, environmental sanitation integration, sludge and contaminated soil disposal terminal operation business, and comprehensive environmental consulting services. The Company's services cover the entire environmental protection industry chain including consulting, design, environmental assessment, testing, research and development, equipment manufacturing, engineering construction, investment and operations.
Guangzhou Environmental Protection Investment Group Co.,Ltd. agreed to acquire 9.85% stake in Guangxi Bossco Environmental Protection Technology Co.,Ltd. from Wang Shuangfei, Song Hainong, Yang Qifeng, and Xu Kaishao for approximately CNY 500 million.