Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. completed the acquisition of Yantai Yichun Breeding Co., Ltd. from Shandong SpringSnow Food Co., Ltd. for CNY 240 million.
January 02, 2020
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Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. (SZSE:002458) signed an agreement to acquire Yantai Yichun Breeding Co., Ltd. from Shandong SpringSnow Food Co., Ltd. for CNY 270 million on July 12, 2019. Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. will acquire the stock and debt of Yantai Yichun Breeding Co., Ltd. A 30% of the transactional price will be paid within 5 days since signing of the agreement. Another 30% of the price will be paid within 10 days since signing of the agreement. Third installment will be paid within 5 days since the entire equity, debt rights and related assets of Yantai Yichun Breeding Co., Ltd are transferred under Shandong Yisheng Livestock & Poultry Breeding Co., Ltd.’s name. After payment of the third installment, a 94% of the transactional price should be paid. The rest of the transactional price will be paid within 15 days following January 31, 2020. Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. will use own funds to acquire the stake. Yantai Yichun Breeding Co., Ltd. reported total assets of CNY 0.01 million and net liabilities of CNY 0.001 million as at December 31, 2018. Yantai Yichun Breeding Co., Ltd. reported operating income of CNY 0 million, operating loss of CNY 0.001 million and net loss of CNY 0.001 million in 2018. The Board of Directors of Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. approved the transaction on July 12, 2019.
Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. (SZSE:002458) completed the acquisition of Yantai Yichun Breeding Co., Ltd. from Shandong SpringSnow Food Co., Ltd for CNY 240 million on January 3, 2020.
Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. is a China-based company, principally engaged in the introduction, breeding, production and distribution of poultry and cattle. The Company operates its businesses primarily through the introduction and breeding of progenitor chickens, the production and distribution of parent chickens, the production and distribution of commodity meat chickens, the production and distribution of feedstuffs, the breeding and distribution of swine and commodity pigs, the breeding and distribution of cows, the production and distribution of specific pathogen free (SPF) eggs, as well as the production and distribution of organic fertilizers. The Company primarily provides progenitor meat chickens, progenitor egg chickens, parent meat chickens, breeding pigs, progenitor pigs, feeds, veterinary drugs and milk, among others. The Company distributes its products mainly in domestic markets.
SHANDONG YISHENG LIVESTOCK & POULTRY BREEDING CO., LTD. 
