Beijing Shenhuaxin Co., Ltd. completed the acquisition of Jiangsu BaDa Landscape Co.,Ltd from a group of shareholders.
November 03, 2015
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Beijing Shenhuaxin Co., Ltd. (SZSE:000010) agreed to acquire Jiangsu BaDa Landscape Co.,Ltd from a group of shareholders for CNY 1.7 billion on May 19, 2015. Wang Rennian, a shareholder will receive consideration in cash and shares. The other shareholders will receive their entire consideration in stock. Beijing Shenhuaxin will issue 117.5 million class A shares at CNY 6.92 per share and pay CNY 846.6 million in cash as part of the consideration. Beijing Shenhuaxin will issue 117.5 million shares to raise up to CNY 813.4 million for cash payment of the transaction. The seller promises that the net profit of Jiangsu BaDa Landscape will be no less than CNY 166 million, CNY 231 million and CNY 330 million respectively, from 2015 to 2017. As on May 15, 2015, the transaction was approved by the Board of Beijing Shenhuaxin Co., Ltd. As of June 3, 2015, the shareholders of Beijing Shenhuaxin approved the transaction. As of June 11, 2015, Beijing Shenhuaxin has completed the acquisition 51% stake in Jiangsu BaDa Landscape for CNY 846.6 million. As on October 9, 2015, the transaction was approved by the China Securities Regulatory Commission.
Beijing Shenhuaxin Co., Ltd. (SZSE:000010) completed the acquisition of Jiangsu BaDa Landscape Co.,Ltd from a group of shareholders on November 4, 2015.
SHENZHEN ECOBEAUTY CO., LTD., formerly BEIJING SHENHUAXIN CO., LTD., is a China-based company principally engaged in landscaping construction engineering business. The Company mainly operates through landscape design, the construction and maintenance of landscaping projects, as well as the cultivation and sale of seedlings. The Company is also involved in the provision of gas selling services. The Company operates its business within domestic market, mainly in East China and Southwest China.