Gold Talent (HK) Limited completed the acquisition of Eshipping Global Supply Chain Management Co Ltd. from COSCO SHIPPING Technology Co., Ltd..
January 01, 2020
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Gold Talent (HK) Limited entered into a share transfer agreement to acquire Eshipping Global Supply Chain Management (Shenzhen) Co Ltd. from COSCO SHIPPING Technology Co., Ltd. (SZSE:002401) for CNY 13.2 million on March 29, 2019. Payment will be done in two installment of 50% of the transactional price each. The 1st installment will be paid within 10 days since completion of change of registry procedures and the 2nd installment will be paid within 10 days since Transition period profit and loss combined calculation. In a related transaction, Gold Talent (HK) Limited signed a share transfer agreement to acquire 17.35% stake in Eshipping Global Supply Chain Management (Shenzhen) Co Ltd. from China Shipping (Group) Company for CNY 9.2 million. Upon completion of the share transfer agreements, Gold Talent will hold 42.35% equity interest in Eshipping. On March 28, 2019, the 8th meeting of the 6th directorate approved the transaction. On August 6, 2019, Gold Talent paid the first payment of CNY 6 million. On September 6, 2019, the application for the change of Eshipping Global Supply Chain Management to a Sino-foreign joint venture has been approved by the Shenzhen Qianhai Shekou Area Management Committee and the Shenzhen Municipal Bureau of Commerce in the China (Guangdong) Pilot Free Trade Zone.
Gold Talent (HK) Limited completed the acquisition of Eshipping Global Supply Chain Management (Shenzhen) Co Ltd. from COSCO SHIPPING Technology Co., Ltd. (SZSE:002401) on January 2, 2020.
COSCO SHIPPING Technology Co., Ltd., formerly China Shipping Network Technology Co., Ltd., is a China-based company principally engaged in the provision of computer application services. The Company primarily provides intelligent transportation system integration as well as information technology and scientific management of transportation, such as variable information boards, transportation signal systems, lane controllers, monitoring systems, toll systems, communication systems, video transportation parameter and incident testing systems. The Company also involves in the sale of industrial automation products, such as digital direct current speed-adjustable device control cabinets, alternative current speed-adjustable device control cabinets, boiler control systems, intelligent electrical panel for ships and substation control cabinets, among others. The Company distributes its products within domestic market.