Shengli Oilfield Chang'an Holding Group Co., Ltd. completed the acquisition of Guangdong Polymer Biochemicals Co., Ltd. from Shandong Polymer Biochemicals Co., Ltd..
May 27, 2019
Share
Shengli Oilfield Chang'an Holding Group Co., Ltd. signed a equity transfer agreement to acquire Guangdong Polymer Biochemicals Co., Ltd. from Shandong Polymer Biochemicals Co., Ltd. (SZSE:002476) for CNY 87.2 million on April 21, 2019. Under the term, Shengli Oilfield Chang'an Holding will pay in one single installment within 3 days since signing of the agreement. As of December 31, 2018, Guangdong Polymer Biochemicals reported total assets of CNY 109.98 million, negative EBIT of CNY 8.85 million, net loss of CNY 8.85 million and total common equity of CNY 85.13 million. The transaction is subject to the approval of Shandong Polymer Biochemicals Co., Ltd.'s shareholders. The transaction was approved by the 3rd meeting of the 5th directorate of Shandong Polymer Biochemicals. As of May 10, 2019, Shandong Polymer Biochemicals Co., Ltd.'s 2018 annual shareholders’ meeting approved the transaction.
Shengli Oilfield Chang'an Holding Group Co., Ltd. completed the acquisition of Guangdong Polymer Biochemicals Co., Ltd. from Shandong Polymer Biochemicals Co., Ltd. (SZSE:002476) on May 28, 2019.
Shandong Polymer Bio-chemicals Co., Ltd. is a China-based company principally engaged in the businesses of energy and environmental protection. The Company operates through three main segments. The Chemical Products segment is mainly engaged in the production and sales of polyacrylamide and related chemicals for tertiary recovery and water treatment. The Oil and Gas Exploration and Development and Technical Services segment is mainly engaged in the exploration and development of oil and gas, as well as the provision of technical services, including comprehensive completed wells and oil and gas field production comprehensive management and others. The Environmental Water Treatment segment is mainly involved in the treatment of petroleum and petrochemical waste water, oil and sand, drilling fluid, fracturing fluid and others.