Wanhua Chemical Group Battery Technology Co., Ltd. completed the acquisition of 15.2% stake in Anhui Annada Titanium Industry Co., Ltd. from Tongling Chemical Industry Group Co.,Ltd.
April 19, 2024
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Wanhua Chemical Group Battery Technology Co., Ltd. signed a share transfer agreement to acquire 15.2% stake in Anhui Annada Titanium Industry Co., Ltd. (SZSE:002136) from Tongling Chemical Industry Group Co.,Ltd. for approximately CNY 300 million on February 26, 2024. Under the terms, Wanhua Chemical will pay CNY 9.15 per share for 32.7 million shares. The transaction was approved by the Board of Directors and shareholders of Wanhua Chemical Group and Tongling Chemical Industry Group. Upon consensus reached by both parties, Tongling Chemical shall act in concert with Wanhua Chemical in voting matters at Anhui Annada's general meeting of shareholders, and the directors nominated by Tongling Chemical shall act in concert with the directors nominated by Wanhua Chemical in voting matters at Anhui Annada's board of directors.
Wanhua Chemical Group Battery Technology Co., Ltd. completed the acquisition of 15.2% stake in Anhui Annada Titanium Industry Co., Ltd. (SZSE:002136) from Tongling Chemical Industry Group Co.,Ltd. on April 19, 2024.
Anhui Annada Titanium Industry Co., Ltd. is a China-based company mainly engaged in the manufacture and sale of titanium dioxide and related chemical products. The Company provides anatase titanium dioxide and rutile powder materials. The Company also supplies iron phosphate. The Company's titanium dioxide products are mainly applied in industries such as painting, plastics, rubber, ink, paper, fiber, daily chemicals and pharmaceuticals, among others. It distributes its products within domestic markets and to overseas markets.
Wanhua Chemical Group Battery Technology Co., Ltd. completed the acquisition of 15.2% stake in Anhui Annada Titanium Industry Co., Ltd. from Tongling Chemical Industry Group Co.,Ltd.