Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd. agreed to acquire an additional 7.3% stake in Dongguan Eontec Co., Ltd. from Yee On Industrial Co., Ltd. for approximately CNY 490 million.
September 01, 2019
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Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd. agreed to acquire an additional 7.3% stake in Dongguan Eontec Co., Ltd. (SZSE:300328) from Yee On Industrial Co., Ltd. for approximately CNY 490 million on September 2, 2019. Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd. will acquire 33.75 million shares at CNY 14.4 per share. The payment will be made in cash. Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd. currently owns 20.64% stake in Dongguan Eontec Co., Ltd and post completion of the transaction will hold 27.97% stake. Yee On Industrial Co., Ltd. currently holds 29.33% stake in Dongguan Eontec Co., Ltd. and post completion of the transaction will hold 22% stake. The present transfer has already been approved by the Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd.
Dongguan Eontec Co., Ltd. is a China-based company principally engaged in the research, development, design, production and sale of new materials. The Company's main products include new energy automotive parts, consumer electronics components, light-emitting diode (LED) curtain walls, liquid metal products and industrial parts and molds. The Company distributes its products in domestic market and to overseas markets.
Zhuzhou City State-owned Assets Investment Holding Group Co., Ltd. agreed to acquire an additional 7.3% stake in Dongguan Eontec Co., Ltd. from Yee On Industrial Co., Ltd. for approximately CNY 490 million.