Suzhou Lvmai Electric Holdings Co., Ltd. completed the acquisition of 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. from Yao Jianhua for approximately CNY 190 million.
December 19, 2021
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Suzhou Lvmai Electric Holdings (Group) Co., Ltd. signed contract to acquire 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) from Yao Jianhua for approximately CNY 190 million on December 1, 2021. As per the transaction, Suzhou Lvmai Electric Holdings (Group) Co., Ltd. will acquire 12.69 million shares at CNY 15 per share. Post completion, Suzhou Lvmai Electric Holdings (Group) Co., Ltd. will hold 10% stake while Yao Jianhua will have 29.8% stake of Suzhou Industrial Park Heshun Electric Co., Ltd.
Suzhou Lvmai Electric Holdings (Group) Co., Ltd. completed the acquisition of 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) from Yao Jianhua on December 17, 2021.
Suzhou Industrial Park Heshun Electric Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of power transmission and distribution equipment and control equipment. The Company's main products include complete sets of electrical equipment, charging devices, anti electric larceny power metering devices and power quality improvement devices. The Company is also involved in the intelligent power distribution and photovoltaic engineering procurement construction (EPC) general contracting businesses, as well as the provision of integrated power application solutions. The Company operates its business mainly in domestic market, with East China as its main market.
Suzhou Lvmai Electric Holdings Co., Ltd. completed the acquisition of 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. from Yao Jianhua for approximately CNY 190 million.