Liaoning Baodi Construction Group Co., Ltd cancelled the acquisition of 50% stake in Liaoning Jingang Baodi Real Estate Co., Ltd. from Jinzhou Port Co., Ltd..
May 29, 2020
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Liaoning Baodi Construction Group Co., Ltd. signed an equity transfer agreement to acquire 50% stake in Liaoning Jingang Baodi Real Estate Co., Ltd. from Jinzhou Port Co., Ltd. (SHSE:900952) for CNY 50 million on May 30, 2019. Under the terms, Liaoning Baodi Construction Group Co., Ltd. paid Jinzhou Port Co., Ltd. a total of CNY 35 million in cash and CNY 15 million were paid off with creditors’ rights. Post acquisition, Jinzhou Port Co., Ltd. will no longer hold equity in Liaoning Jingang Baodi Real Estate Co., Ltd. For the year ended December 31, 2018, Liaoning Jingang Baodi Real Estate Co., Ltd. reported total assets of approximately CNY 800 million, net assets of approximately CNY 100 million, operating revenue of approximately CNY 100 million and net loss of 0.6 million.
Liaoning Baodi Construction Group Co., Ltd cancelled the acquisition of 50% stake in Liaoning Jingang Baodi Real Estate Co., Ltd. from Jinzhou Port Co., Ltd. (SHSE:900952) on May 30, 2020.
JINZHOU PORT CO.,LTD. is a China-based company principally engaged in port cargo loading and unloading, material warehousing and related logistics operations. The Company provides port services to products into the categories of oil products and chemicals (including crude oil, refined oil and liquid chemicals); bulk cargo goods (including coal, food and staples and minerals); and other cargo goods (including steel, petroleum coke, sugar, fertilizers as well as alumina, among others). Oil products and chemicals, food and staples, coal, steel, fertilizers and domestic containers are five advantaged sources of the Company.
Liaoning Baodi Construction Group Co., Ltd cancelled the acquisition of 50% stake in Liaoning Jingang Baodi Real Estate Co., Ltd. from Jinzhou Port Co., Ltd..
JINZHOU PORT CO., LTD. 