Zaozhuang Mining Co., Ltd. competed the acquisition of 26.05% stake in Zhongtai Securities Co., Ltd. from Laiwu Steel Group Ltd.
July 27, 2022
Share
Zaozhuang Mining (Group) Co., Ltd. entered into a share transfer agreement to acquire 26.05% stake in Zhongtai Securities Co., Ltd. (SHSE:600918) from Laiwu Steel Group Ltd. for CNY 19.6 billion on November 30, 2021. In a related transaction, Shandong High-speed Investment Holdings Co., Ltd. entered into a share transfer agreement to acquire 5.32% stake in Zhongtai Securities Co., Ltd. from Laiwu Steel Group Ltd. for CNY 4 billion on November 30, 2021. Post completion of both transactions, Laiwu Steel Group Ltd. will hold 15% stake of Zhongtai Securities Co., Ltd. The transaction is subject to approval by competent state-owned asset regulatory authorities, to review on the concentration of operators having been passed by the Anti-monopoly Bureau of State Administration for Market Regulation. Qualification of shareholders in transaction have to be approved by China Securities Regulatory Commission. The China Securities Regulatory Commission approved the relevant shareholder qualifications for this gratuitous transfer. Huang Zhaohui, Wang Sheng and Du Yiqing of China International Capital Corporation Limited (SEHK:3908) acted as financial advisor to Zaozhuang Mining (Group) Co., Ltd.
Zaozhuang Mining (Group) Co., Ltd. competed the acquisition of 26.05% stake in Zhongtai Securities Co., Ltd. (SHSE:600918) from Laiwu Steel Group Ltd. on July 28, 2022.
Zhongtai Securities Co Ltd is a China-based company primarily engaged in wealth management business. The wealth management business mainly provides securities brokerage services, investment advisory services, product allocation services, and comprehensive financial services. The Company operates a total of eight segments: Wealth Management Business segment, Securities and Alternative Investment Business segment, Investment Banking Business segment, Futures Business segment, Asset Management Business segment, Credit Business segment, Overseas Business, as well as Headquarters and Other Business segment. The Company's main businesses include investment banking business, wealth management business, institutional business, investment business, credit business, asset management business, international business, futures business, and others.