Xi'an Dake Management Consulting Partnership (Limited Partnership) completed the acquisition of 52% stake in Zhongde Environmental Protection Technology Co., Ltd. from Dagang Holding Group Co.,Ltd..
December 12, 2023
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Xi'an Dake Management Consulting Partnership (Limited Partnership) agreed to acquire 52% stake in Zhongde Environmental Protection Technology Co., Ltd. from Dagang Holding Group Co.,Ltd. (SZSE:300103) for approximately CNY 280 million on December 16, 2022. 50% of consideration will be paid within 6 months after the "Equity Transfer Agreement" takes effect, Xi'an Dake shall pay the first transfer price to Dagang Holdings, which is more than 50% of the equity transfer payment, that is, more than CNY 139.88 million. Remaining will be paid Within 24 months after the "Equity Transfer Agreement" takes effect. The transaction has been approved by board of directors and shareholders of Dagang Holding Group and is still subject to approval from Shenzhen Stock Exchange. As of November 11, 2023, Xi'an Dake, has fully paid the first installment consideration of CNY140 million to agang Holding Group Co.,Ltd. JinYuan President Securities Corporation Limited acted as financial advisor, T&C Law Firm acted as legal advisor and T&C Law Firm acted as accountant to Dagang Holding Group.
Xi'an Dake Management Consulting Partnership (Limited Partnership) completed the acquisition of 52% stake in Zhongde Environmental Protection Technology Co., Ltd. from Dagang Holding Group Co.,Ltd. (SZSE:300103) on December 13, 2023.
DAGANG HOLDING GROUP CO., LTD, formerly XI'AN DAGANG ROAD MACHINERY CO., LTD., is a China-based company principally engaged in the research, development, manufacture, sales of road construction machinery equipment, provisions of technical services and engineering, procurement and construction of domestic and overseas projects. The Companyâs products include chip sealers, slurry seal/micro surfacing pavers, pavement maintenance machines, asphalt material production equipment, liquid asphalt vehicles, asphalt emulsification equipment, asphalt distributors, asphalt synchronous chip sealers, chip spreaders, thermal conductivity oil furnaces, asphalt modified equipment, road sweepers and asphalt concrete pavers and others. The Company distributes its products in domestic and to overseas markets.
Xi'an Dake Management Consulting Partnership (Limited Partnership) completed the acquisition of 52% stake in Zhongde Environmental Protection Technology Co., Ltd. from Dagang Holding Group Co.,Ltd..