Zhejiang Jiaao Enprotech Stock Co., Ltd completed the acquisition of ZHEJIANG Eastriver Energy S&T CO.,LTD from Tongxiang Eastriver Investment Co., Ltd., Tongxiang Golden Sunflower Investment Management Partnership Enterprise (Limited Partnership), Shen Hanxing and Lin Xiaoping.
January 25, 2017
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Zhejiang Jiaao Enprotech Stock Co., Ltd (SHSE:603822) signed intent agreement to acquire ZHEJIANG Eastriver Energy S&T CO.,LTD from Tongxiang Eastriver Investment Co., Ltd., Tongxiang Golden Sunflower Investment Management Partnership Enterprise (Limited Partnership), Shen Hanxing and Lin Xiaoping for CNY 200 million on November 28, 2016. Parties have singed an agreement on December 13, 2017. The consideration will be paid in cash. The transaction will be financed from private placement of gross proceeds of not more than CNY 400 million. For the year ended December 31, 2015, ZHEJIANG Eastriver Energy S&T reported total assets of CNY 130.7 million, net assets of CNY 77.1 million, net profit of CNY 1.4 million and operating revenues of CNY 130 million. The transaction has been approved by the Board of Directors of Zhejiang Jiaao Enprotech on November 28, 2016. On December 29, 2016, the shareholders of Zhejiang Jiaao Enprotech Stock Co., Ltd. approved the deal.
Zhejiang Jiaao Enprotech Stock Co., Ltd (SHSE:603822) completed the acquisition of ZHEJIANG Eastriver Energy S&T CO.,LTD from Tongxiang Eastriver Investment Co., Ltd., Tongxiang Golden Sunflower Investment Management Partnership Enterprise (Limited Partnership), Shen Hanxing and Lin Xiaoping on January 26, 2017.
ZHEJIANG JIAAO ENPROTECH STOCK CO., LTD. is principally engaged in the research and development, production and sales of environment friendly plasticizer products. The Company's products are divided into three series, such as epoxy, petrochemical and composite series. Its products mainly include epoxy soybean oil, epoxy fatty acid methyl ester, petrochemical environment friendly plasticizer and multifunctional complex plasticizers, among others. Its products are mainly used in the production of PVC plastic products of the industrial plastic fields, including wire and cable, artificial leather flocking and plastic film, among others.
Zhejiang Jiaao Enprotech Stock Co., Ltd completed the acquisition of ZHEJIANG Eastriver Energy S&T CO.,LTD from Tongxiang Eastriver Investment Co., Ltd., Tongxiang Golden Sunflower Investment Management Partnership Enterprise (Limited Partnership), Shen Hanxing and Lin Xiaoping.