Suli Co., Ltd. agreed to acquire an additional 6% stake in Taizhou Baili Chemical Co., Ltd. from Oxon Asia srl for CNY 70 million.
December 03, 2020
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Suli Co., Ltd. (SHSE:603585) agreed to acquire an additional 6% stake in Taizhou Baili Chemical Co., Ltd. from Oxon Asia srl for CNY 70 million on December 3, 2020. Prior to the transaction, Suli holds 70% stake in Taizhou Baili while Oxon holds the remaining 30% stake. Upon completion, Suli will hold 76% stake in Taizhou Baili. Taizhou Baili reported total assets of CNY 0.13 million and net assets of CNY 0.11 million in the year ending on Septemner 30, 2020. The transaction is subject to the approval of the shareholders of Suli and was already approved by its Board of Directors.
Suli Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of pesticides, flame retardants and other fine chemical products. Its pesticides include chlorothalonil, azoxystrobin, pesticide agent and other pesticide products. Its flame retardants products include decabromodiphenylethane, flame retardant masterbatch and other flame retardant products. Its other fine chemical products include hydrobromic acid and other products. The Company distributes its products within domestic market and to overseas markets.
SULI CO., LTD. 
