Anhui Huaqi Environmental Protection & Technology Co., Ltd. cancelled the acquisition of Everbright Jiangdong Environmental Energy (Ma?anshan) Co., Ltd. and Ma?anshan Jiangdong China Railway.
October 12, 2023
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Anhui Huaqi Environmental Protection & Technology Co., Ltd. (SZSE:300929) agreed to acquire Everbright Jiangdong Environmental Energy (Ma?anshan) Co., Ltd. and Ma?anshan Jiangdong China Railway for approximately CNY 270 million on March 29, 2023. Under the terms, Anhui Huaqi Environmental will issue 22,131,048 shares at a price of CNY 10.38 per share in cash. As per the transaction, Anhui Huaqi Environmental Protection & Technology Co., Ltd. will acquire 50% stake in Everbright Jiangdong Environmental Energy and 51% in Ma?anshan Jiangdong China Railway Water. Transaction has been approved by Anhui Huaqi Environmental Protection's board and subject to approval from SASAC, CSRC, State Administration for Market Regulation?s Business Concentration Anti-monopoly Review and Anhui Huaqi Environmental Protection's shareholders. Anhui Huaqi Environmental Protection & Technology Co., Ltd. (SZSE:300929) plan involving Issuing Shares to Purchase Assets and Private Placement for Raising Supporting Funds and Relevant Transactions Related Matters being Approved by the Anhui Provincial Department of Finance. For the period September 30, 2022, Everbright Jiangdong and Ma?anshan Jiangdong China Railway had CNY 840.9518 million of total assets and CNY 389.2451 million of Net assets.
Tian Yuan Law Firm acted as a legal advisor and RSM China Certified Public Accountants acted as an accountant to Anhui Huaqi Environmental Protection & Technology Co., Ltd.
Anhui Huaqi Environmental Protection & Technology Co., Ltd. (SZSE:300929) cancelled the acquisition of Everbright Jiangdong Environmental Energy (Ma?anshan) Co., Ltd. and Ma?anshan Jiangdong China Railway on October 13, 2023.
Anhui Huaqi Environmental Protection&Technology Co Ltd is a China-based company principally engaged in water environment management related businesses. The Company provides customers with biological aerated filter (BAF) process technology and core products, intelligent sewage treatment equipment, water environment treatment engineering services, and sewage treatment investment and operation services. The Company's businesses cover the construction and upgrading of urban sewage and industrial wastewater treatment facilities, sewage treatment in villages and towns, and the treatment of black and odorous water bodies. The Company mainly conducts its businesses in the domestic market.
Anhui Huaqi Environmental Protection & Technology Co., Ltd. cancelled the acquisition of Everbright Jiangdong Environmental Energy (Ma?anshan) Co., Ltd. and Ma?anshan Jiangdong China Railway.