Qingdao Aucma Holding Group Co., Ltd. completed the acquisition of 10% stake in Aucma Co.,Ltd. from Qingdao Enterprise Development Investment Co., Ltd.
January 11, 2021
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Qingdao Aucma Holding Group Co., Ltd. signed a share transfer agreement to acquire 10% stake in Aucma Co.,Ltd. (SHSE:600336) from Qingdao Enterprise Development Investment Co., Ltd. for approximately CNY 610 million on November 3, 2020. As per terms, Qingdao Aucma Holding Group Co., Ltd. will acquire approximately 79.9 million shares at CNY 7.61 per share. The consideration will be paid in full in one lump sum within 10 working days after the effective date of the agreement. Upon completion, Qingdao Enterprise Development Investment Co., Ltd. will reduce its stake in Aucma Co.,Ltd. from 38.59% to 28.59%. As of December 11, 2020, State-owned Assets Supervision and Administration Commission of Qingdao Municipal Peoples Government in principle approved the deal. China Securities Co., Ltd. acted as an independent financial advisor to Aucma Co.,Ltd. for the transaction.
Qingdao Aucma Holding Group Co., Ltd. completed the acquisition of 10% stake in Aucma Co.,Ltd. (SHSE:600336) from Qingdao Enterprise Development Investment Co., Ltd. on January 11, 2021.
AUCMA COMPANY LIMITED is a China-based company principally engaged in the manufacture and distribution of refrigerators and freezers. The Company is also engaged in the manufacture and distribution of electric-driven bicycles, other electrical appliances and small household electrical appliances. The Company's main products include refrigerators, freezers, electric-driven bicycles, washing machines, small household electrical appliances, automatic vending machines, solar water heaters, electrical water heaters and kitchen electrical appliances, among others. The Company distributes its products under the brand name of AUCMA. The Company distributes its products within domestic market and to overseas markets.
Qingdao Aucma Holding Group Co., Ltd. completed the acquisition of 10% stake in Aucma Co.,Ltd. from Qingdao Enterprise Development Investment Co., Ltd.
AUCMA CO.,LTD. 
