Zhenjiang New District Xinggang Water Conservancy Development Co., Ltd., Zhenjiang University Science Park Development Co., Ltd. and Zhenjiang Export Processing Zone Chengtou Materials Development Co., Ltd. agreed to acquire Zhenjiang Aike Semiconductor Co., Ltd. from Jiangsu Dagang Co., Ltd. for CNY 1.4 billion.
December 11, 2019
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Zhenjiang New District Xinggang Water Conservancy Development Co., Ltd., Zhenjiang University Science Park Development Co., Ltd. and Zhenjiang Export Processing Zone Chengtou Materials Development Co., Ltd. agreed to acquire Zhenjiang Aike Semiconductor Co., Ltd. from Jiangsu Dagang Co., Ltd. (SZSE:002077) for CNY 1.4 billion on December 11, 2019. The buyers will pay the transfer price in cash, 51% of the transfer price amounting to CNY 713.7 million will be paid in the first installment within 5 working days after the equity transfer agreement becomes effective. The remaining equity transfer amount of CNY 685.7 million shall be paid in two years. The buyers shall pay the seller interest at a rate no less than the bank's loan interest rate for the same period. The specific payment situation is as follows; 50% of the above remaining equity transfers by the end of December 2020, that is, CNY 342.9 million and the corresponding interest at the same time; all the remaining equity transfers, namely CNY 342.9 million, must be paid by the end of December 2021, and corresponding interest should be paid at the same time. The transaction was approved by the 14th meeting of the 7th directorate of Jiangsu Dagang.
JIANGSU DAGANG CO., LTD is a China-based company principally engaged in the development of industrial parks. The Company is also involved in the production and distribution of silicon chips and solar modules, engineering construction, the provision of engineering labor services, trading and logistics business, the operation and leasing of real estate, as well as the sale of concretes and aerated blocks. Through its subsidiaries, it also involves in the provision of warehousing services, property management services and parking lots management services, as well as production and supply of water for industrial use, among others. The Company operates its businesses mainly in domestic market.
Zhenjiang New District Xinggang Water Conservancy Development Co., Ltd., Zhenjiang University Science Park Development Co., Ltd. and Zhenjiang Export Processing Zone Chengtou Materials Development Co., Ltd. agreed to acquire Zhenjiang Aike Semiconductor Co., Ltd. from Jiangsu Dagang Co., Ltd. for CNY 1.4 billion.