Zhongxian Construction Group Co., Ltd. signed a share transfer intention agreement to acquire 22% stake in Beijing New Universal Science and Technology Co., Ltd. from a group of shareholders.
November 07, 2019
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Zhongxian Construction Group Co., Ltd. signed a share transfer intention agreement to acquire 22% stake in Beijing New Universal Science and Technology Co., Ltd. (SZSE:300472) from a group of shareholders recently. As on November 13, 2019, a share transfer agreement is signed. As per the agreement, Zhongxian Construction Group Co., Ltd. has designated Jiangxi Guolian Dacheng Industrial Co., Ltd. to acquire 12.22% stake in Beijing New Universal Science and Technology Co., Ltd. from 10 individuals for approximately CNY 310 million. Certain sellers from intention agreement are no longer part of transaction. As per terms, 25.5 million shares will be acquired at CNY 11.95 per share. As per the agreement, Zhongxian Construction Group Co., Ltd. has designated Jiangxi Guolian Dacheng Industrial Co., Ltd. to acquire 9.31% stake in Beijing New Universal Science and Technology Co., Ltd. from 8 individuals for approximately CNY 230 million. As on December 12, 2019 two supplementary agreements were signed on December 4, 2019 and December 11, 2019 with Li Jinping and Zhi Heng where they are no longer part of transaction. As per terms, 19.4 million shares will be acquired at CNY 11.95 per share
New Universal Science and Technology Co Ltd, formerly Jiangxi New Universal Science and Technology Co Ltd, is a China-based company mainly engaged in the research and development, manufacture and sales of intelligent ingredient conveying equipment, and providing corresponding complete solutions. The Company's main products include intelligent conveying batching equipment, green environmental protection equipment, intelligent display and control equipment, intelligent special equipment and intelligent cracking equipment. The Company mainly distributes its products within domestic market.
Zhongxian Construction Group Co., Ltd. signed a share transfer intention agreement to acquire 22% stake in Beijing New Universal Science and Technology Co., Ltd. from a group of shareholders.