Cefc Anhui International Holding Co., Ltd. cancelled the acquisition of 85% stake in Yangpu International Energy Trading Center Co., Ltd. from CEFC Hainan International Holdings Co., Ltd.
June 29, 2016
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Cefc Anhui International Holding Co., Ltd. (SZSE:002018) signed a equity transfer agreement to acquire 85% stake in Yangpu International Energy Trading Center Co., Ltd. from CEFC Hainan International Holdings Co., Ltd. for CNY 47.9 million on June 30, 2015. In related transactions, Cefc Anhui International Holding Co., Ltd. signed an equity transfer agreement to acquire CEFC Shanghai Group Business Factoring Co., Ltd. from CEFC Shanghai International Group Limited for CNY 104.2 million, signed an equity transfer agreement to acquire Dashi Financial Leasing (Shanghai) Co., Ltd. from CEFC Shanghai Group (Hong Kong) Co., Ltd. for CNY 1, signed an equity transfer agreement to acquire CEFC Shanghai International Financial Holdings (Hainan) Co., Ltd. from Shanghai CEFC Financial Holdings Co., Ltd. for CNY 1.
Cefc Anhui International Holding will use self-owned funds. Yangpu International Energy Trading Center Co., Ltd. reported total assets of CNY 60.95 million, owners’ equity of CNY 57.75 million, revenue of CNY 1661.31, operating loss of CNY 2.25 million and net loss of CNY 2.25 million as of December 31, 2014. The deal is subject to approval of the shareholders of Cefc Anhui International Holding and approval of the related government agencies. The deal was approved by the Board of Directors of Cefc Anhui International Holding. The transaction was approved by shareholders of Cefc Anhui International Holding on July 22, 2015.
Cefc Anhui International Holding Co., Ltd. (SZSE:002018) cancelled the acquisition of 85% stake in Yangpu International Energy Trading Center Co., Ltd. from CEFC Hainan International Holdings Co., Ltd. on June 30, 2016.
Cefc Anhui International Holding Co., Ltd., is a China-based company principally engaged in fertilizers and agricultural chemicals businesses, as well as the energy businesses. The Company operates in three segments. The Fertilizers and Agricultural Chemicals segment provides insecticides, herbicides and fungicides, among others. The Energy segment is mainly engaged in the distribution and transportation of liquefied gas, as well as the petroleum products trading. The Financial Business segment is mainly engaged in the factoring businesses. The Company distributes its products within domestic market and to overseas markets.
Cefc Anhui International Holding Co., Ltd. cancelled the acquisition of 85% stake in Yangpu International Energy Trading Center Co., Ltd. from CEFC Hainan International Holdings Co., Ltd.