Shaanxi Gas Group Co.,Ltd completed the acquisition of 2.69% stake in Shaanxi Provincial Natural Gas Co.Ltd from Shaanxi Huashan Venture Capital Co., Ltd.
December 16, 2021
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Shaanxi Gas Group Co.,Ltd agreed to acquire 2.69% stake in Shaanxi Provincial Natural Gas Co.Ltd (SZSE:002267) from Shaanxi Huashan Venture Capital Co., Ltd. for approximately CNY 190 million on April 14, 2021. Shaanxi Gas Group will acquire 29.9 million shares of Shaanxi Provincial Natural Gas at CNY 6.5 per share wherein 30% of the transfer price shall be paid by cash transfer within 5 working days after entering into this agreement as the security deposit for this equity transfer and the remaining 70% of the equity transfer price shall be paid within 20 working days after the security deposit is delivered. In a related transaction, Shaanxi Gas Group agreed to acquire 5.53% stake in Shaanxi Provincial Natural Gas from Macao Huashan Investment International Economic Technology Cooperation &Trade Co., Ltd. Upon completion of both transactions, Shaanxi Gas Group's shareholding in Shaanxi Provincial Natural Gas will change from 55.36% to 64.43% stake.
Shaanxi Gas Group Co.,Ltd completed the acquisition of 2.69% stake in Shaanxi Provincial Natural Gas Co.Ltd (SZSE:002267) from Shaanxi Huashan Venture Capital Co., Ltd. on December 17, 2021.
Shaanxi Provincial Natural Gas Co., Ltd is a China-based company principally engaged in natural gas distribution business. The Company is also engaged in pipeline transportation of natural gas and the operation of gasification projects. Through its subsidiaries, the Company is also engaged in the design, investment, installation, construction, operation and management of natural gas city gasification projects, the development and manufacture of facilities, as well as the construction and operation of vehicle filling stations, among others. The Company mainly conducts its businesses in Shaanxi province.
Shaanxi Gas Group Co.,Ltd completed the acquisition of 2.69% stake in Shaanxi Provincial Natural Gas Co.Ltd from Shaanxi Huashan Venture Capital Co., Ltd.