A consortium of buyers signed an equity transfer contract to acquire 28.8% stake in Hangzhou Century Co., Ltd. from Yu Guohua and Lu Nan for CNY 1.1 billion.
April 29, 2015 at 12:00 am
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A consortium of buyers signed an equity transfer contract to acquire 28.8% stake in Hangzhou Century Co., Ltd. (SZSE:300078) from Yu Guohua and Lu Nan for CNY 1.1 billion on April 27, 2015. Under the terms of the deal, Yu Guohua and Lu Nan agreed to transfer 46.86 million shares in Hangzhou Century Co., Ltd. to the transaction counterparties for the price of CNY 23.2 per share, of which, Lu Nan will transfer 21.26 million shares and Yu Guohua will transfer 25.60 million shares.
The transaction counterparties are Hangzhou Runming Equity Investment Partnership (limited Partnership), Shaoxing Kaitai Technology Investment Partnership (limited partnership), Hangzhou Kaitai Growth Venture Capital Partnership (limited partnership), Zhejiang Haibang Talent Venture Capital Partnership (limited partnership), Shanghai Ruijingda Venture Capital Co., Ltd., Zhejiang Sinowisdom Fuhua Venture Capital Partnership (limited partnership), Zhuhai Huahong Jinrun Venture Capital Partnership Enterprise (L.P.), Hangzhou Kaitai Chuangxin Investment Partnership (limited partnership), Hangzhou Qiyin Venture Capital Co., Ltd., Zhejiang Sinowisdom Bluestone Venture Capital Co., Ltd., Zhou Mingming, Wang Fugen, Chen Fanghua, Wang Xiaoye, Li Ji, Zuo Kang, Yu Zhen, Wang Jianbin, Zhou Xuan, Shen Liping, Huang Biao, Zhang Lizhong, Peng Jun, He Guoping, Zheng Lingjun and Shanghai Ewell Industry Co., Ltd.
In a related deal, Hangzhou Century Co., Ltd. (SZSE:300078) agreed to acquire Ewell Technology Co., Ltd. from a group of sellers for CNY 1.1 billion in cash on April 20, 2015. The transaction is subject to approval of the shareholders meeting of Hangzhou Century and other possible approvals involved. On April 27, 2015, the Board of Directors of Hangzhou Century Co. approved the transaction. Guosen Securities Co., Ltd. acted as financial advisor, Zhejiang T&C Law Firm acted as legal advisor and Pan-China Certified Public Accountants (Special General Partnership) acted as accountant in the transaction.
HANGZHOU CENTURY CO . , LTD is a China-based company principally engaged in electronic tag business and intelligent medical business. The Company is mainly engaged in the research, development, production, distribution and provision of technical services of electronic article surveillance (EAS) tags and radio frequency identification (RFID) tags. The Company is also involved in intelligent medical business, which includes the development and sale of medical information software, hardware and systems, project implementation, the provision of technical services and project operation. The Company distributes its products in domestic market and to overseas markets.
A consortium of buyers signed an equity transfer contract to acquire 28.8% stake in Hangzhou Century Co., Ltd. from Yu Guohua and Lu Nan for CNY 1.1 billion.
HANGZHOU CENTURY CO., LTD 