Xiamen Yi Yue Property Company Limited acquired 8.05% stake in Holsin Engineering Consulting Group Co.,Ltd. from Beijing Tianxiang Daotong Asset Management Co., Ltd.
December 06, 2021
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Xiamen Yi Yue Property Company Limited entered into an agreement to acquire 8.05% stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) from Beijing Tianxiang Daotong Asset Management Co., Ltd. for approximately CNY 270 million on August 16, 2021. Under the terms, Xiamen Yi Yue Property Company will acquire an aggregate of 16,147,700 Holsin Engineering shares, representing approximately 8.05% of the total number of Holsin Engineering shares. The purchase price per Holsin Engineering Share is CNY 16.53. In a related transaction, Xiamen Yi Yue Property Company Limited signed a share purchase agreement to acquire 19.69% stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) for approximately CNY 650 million on June 21, 2021. Post completion of these transactions, Xiamen Yi Yue Property Company will hold approximately 24.51% stake in Holsin Engineering and become the single largest shareholder of Holsin Engineering. Xiamen Yi Yue Property Company will finance the total consideration for the transactions with its internal resources. As of November 22, 2021, Yi Yue holds approximately 16.46% of the total number of Holsin Engineering Share and the transaction is still pending.
The transaction is subject to approval of The State-owned Assets Supervision and Administration Commission of Xiamen Municipal Peoples Government, completion of due diligence, approval from the Anti-monopoly Bureau of State Administration for Market Regulation and acquisition of 19.69% stake in Holsin Engineering by Xiamen Yi Yue Property Company. As of August 18, 2021, Xiamen Yi Yue Property Co., Ltd.s holding shareholder Xiamen Libai Business Service Co., Ltd. Made a shareholder decision, approving this equity change. The State-owned Assets Supervision and Administration Commission of Xiamen Municipal Peoples Government made an approval, approved in principle this equity change. Xi Chen Yuan Taizhe, Yang Huahui and Wang Haisang Yuan Han of China Industrial Securities Co.,Ltd. acted as financial advisor for Holsin Engineering Consulting Group.
As of December 7, 2021, Xiamen Yi Yue Property Company Limited holds approximately 24.51% of the total number of Holsin Engineering Shares in issue and remains the single largest shareholder of Holsin Engineering.
Xiamen Yi Yue Property Company Limited completed the acquisition of 8.05% stake in Holsin Engineering Consulting Group Co.,Ltd. (SHSE:603909) from Beijing Tianxiang Daotong Asset Management Co., Ltd. on December 7, 2021.
C&D Holsin Engineering Consulting Co Ltd, formerly Holsin Engineering Consulting Group Co Ltd, is a China-based company mainly engaged in comprehensive engineering consulting. The Company's main business includes engineering management, testing and testing, survey and design, comprehensive management and other technical services. Project management services mainly include quality supervision, construction safety supervision, construction environmental protection supervision, cost supervision, progress supervision and management of other contract matters. Testing and testing technical services are mainly to provide testing and testing services for highway and waterway projects. The Company is also engaged in the production and leasing of new engineering materials. The Company services mainly conducts its business in the domestic market.
Xiamen Yi Yue Property Company Limited acquired 8.05% stake in Holsin Engineering Consulting Group Co.,Ltd. from Beijing Tianxiang Daotong Asset Management Co., Ltd.