Sichuan Hongyi Jiahua Industrial Co., Ltd. signed an agreement to acquire an additional 16.6% stake in Chengdu Road & Bridge Engineering Co.,Ltd. from Zheng Yuli and Chengdu Chengdao Transport Facilities Co., Ltd. for CNY 1.7 billion.
January 15, 2018
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Sichuan Hongyi Jiahua Industrial Co., Ltd. signed an agreement to acquire an additional 16.6% stake in Chengdu Road & Bridge Engineering Co.,Ltd. (SZSE:002628) from Zheng Yuli and Chengdu Chengdao Transport Facilities Co., Ltd. for CNY 1.7 billion on January 15, 2018. As per the terms of transaction, Zheng Yuli will sell 88.7 million shares and Chengdu Chengdao Transport Facilities will sell 34 million shares of Chengdu Road & Bridge Engineering at CNY 13.99 per share. In a related transaction, Sichuan Hongyi Jiahua Industrial Co., Ltd. signed an agreement to acquire an additional 5% stake in Chengdu Road & Bridge Engineering Co.,Ltd. Upon completion of both the deals, Sichuan Hongyi Jiahua Industrial Co., Ltd.'s stake in Chengdu Road & Bridge Engineering Co.,Ltd. will increase from 8.06% to 29.7%.
Chengdu Road & Bridge Engineering CO.,LTD. is mainly engaged in the construction of roads, bridges and tunnels, the upgrading and daily maintenance of road and municipal projects, the manufacture and sale of traffic safety facilities, construction machinery leasing business, as well as transportation engineering testing related business. The Company's main products include highways, fast track municipalities, municipal infrastructure, various types of bridges and tunnels and traffic safety facilities. The Company operates its businesses mainly in Sichuan Province, China.
Sichuan Hongyi Jiahua Industrial Co., Ltd. signed an agreement to acquire an additional 16.6% stake in Chengdu Road & Bridge Engineering Co.,Ltd. from Zheng Yuli and Chengdu Chengdao Transport Facilities Co., Ltd. for CNY 1.7 billion.
CHENGDU ROAD & BRIDGE ENGINEERING CO.,LTD 
