China Haohua Chemical Corporation completed the acquisition of substantially all assets and liabilities from HeiLongJiang HeiHua Co.,Ltd.
September 06, 2016 at 09:30 am IST
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China Haohua Chemical (Group) Corporation agreed to acquire substantially all assets and liabilities from HeiLongJiang HeiHua Co.,Ltd (SHSE:600179) for CNY 27.4 million on May 8, 2015. In a related transaction HeiLongJiang HeiHua Co.,Ltd agreed to acquire Quanzhou-based logistic company. The transaction is subject to approval by the State-owned Assets Supervision and Administration Commission of the State Council and China Securities Regulatory Commission and shareholders of Heilongjiang.
Heilongjiang's Board of Directors approved the transaction on May 8, 2015. Heilongjiang's Board of Directors approved the reorganization formal plan on August 25, 2015. The State-owned Assets Supervision and Administration Commission of the State Council approved the deal. Heilongjiang's shareholders approved the reorganization formal plan on September 16, 2015. As of March 23, 2016, the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the CSRC conditionally approved the transaction. On April 22, 2016, HeiLongJiang HeiHua received the written approval from CSRC. As on June 2, 2016, Heilongjiang Heihua Co temporarily suspended the major asset reorganization. As on July 12, 2016, Heilongjiang Heihua Co disclosed the resumption of major asset sale. Haitong Securities Co., Ltd. acted as financial advisor, King & Wood PRC Lawyers acted as legal advisor, Huapu Tianjian Certified Public Accountants and BDO China Shu Lun Pan Certified Public Accountants LLP acted as accounts for HeiLongJiang HeiHua.
China Haohua Chemical (Group) Corporation completed the acquisition of substantially all assets and liabilities from HeiLongJiang HeiHua Co.,Ltd (SHSE:600179) on September 6, 2016.
Antong Holdings Co., Ltd., formerly Heilongjiang Heihua Co., Ltd., is a China-based company principally engaged in the freight transportation business and the provision of freight forwarding agent, warehousing, logistics and ship management services. It mainly operates its business in domestic market.