Tianjin Xiequn Yutai Trading Co., Ltd concluded a share transfer contract to acquire 95% stake in Yantai Changye Construction Material Co., Ltd from Takamisawa Co., Ltd. for CNY 4.5 million.
October 09, 2018
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Tianjin Xiequn Yutai Trading Co., Ltd concluded a share transfer contract to acquire 95% stake in Yantai Changye Construction Material Co., Ltd from Takamisawa Co., Ltd. (JASDAQ:5283) for CNY 4.5 million on October 10, 2018. Yantai Changye Construction Material reported net assets of CNY 12.6 million, total assets of CNY 26 million, sales of CNY 8.6 million, operating loss of CNY 0.13 million and net loss of CNY 0.3 million for the year ended December 2017. The deal is subject to approval from Chinese authorities and completion of processes. The transaction has been resolved by the Board of Directors of Takamisawa Co., Ltd at the meeting held on October 10, 2018. The transaction is expected to be completed in January 2019.
TAKAMISAWA CO., LTD. is a manufacturing company. The Construction-related segment manufactures and sells concrete secondary products, ready-mixed concrete, gravel and sand, sells cement and other construction materials, operates civil engineering contract, construction work and cargo trucking businesses. The Electrical Materials segment sells electrical materials, industrial machinery and air conditioning systems. The Car Life-related segment is engaged in the sale of petroleum products, the sale, maintenance and rental of automobiles, the agency of non-life insurance. The Housing and Life-related segment is involved in the trade, brokerage and management of real estate, the treatment of general and industrial waste, the sale of fruits, vegetables and fertilizers, the manufacture and sale of processed foods, golf supplies, agricultural machinery, mineral water and confectionery, the operation of golf courses and cable network television station, the processing of cheese, and others.
Tianjin Xiequn Yutai Trading Co., Ltd concluded a share transfer contract to acquire 95% stake in Yantai Changye Construction Material Co., Ltd from Takamisawa Co., Ltd. for CNY 4.5 million.