Beijing Creative Distribution Automation Co., Ltd. agreed to acquire 4.61% stake in Suzhou Best Area Power Co., Ltd from Hangzhou Juhua Lianxin Investment Management Partnership Enterprise (Limited Partnership) managed by ZJU Joint Innovation Investment for CNY 17 million.
January 09, 2018
Share
Beijing Creative Distribution Automation Co., Ltd. (SZSE:002350) agreed to acquire 4.61% stake in Suzhou Best Area Power Co., Ltd from Hangzhou Juhua Lianxin Investment Management Partnership Enterprise (Limited Partnership) managed by ZJU Joint Innovation Investment for CNY 17 million on January 8, 2018. Post-acquisition, Beijing Creative Distribution Automation Co., Ltd. will hold 4.61% stake in Suzhou Best Area Power Co., Ltd and Hangzhou Juhua Lianxin Investment Management Partnership Enterprise (Limited Partnership) managed by ZJU Joint Innovation Investment will cease to hold any stake in Suzhou Best Area Power Co., Ltd. The transaction will be funded from internal resources of Beijing Creative Distribution Automation Co., Ltd. The transaction does not need approval from shareholders' of Beijing Creative Distribution Automation Co., Ltd. As of January 8, 2018, Board of Beijing Creative Distribution Automation Co., Ltd. approved the transaction. Co., Ltd., As of January 8, 2018, Board of Hangzhou Sunrise Technology shareholder of Hangzhou Juhua Lianxin Investment Management Partnership Enterprise approved the transaction
Beijing Creative Distribution Automation Co., LTD. is a China-based company principally engaged in the research and development, manufacturing and sales of power distribution and control equipment. The Company's principal products include switch products, box-type substation products, automation products, power electronics products, related accessories and other products. The Company mainly distributes its products in domestic market.
Beijing Creative Distribution Automation Co., Ltd. agreed to acquire 4.61% stake in Suzhou Best Area Power Co., Ltd from Hangzhou Juhua Lianxin Investment Management Partnership Enterprise (Limited Partnership) managed by ZJU Joint Innovation Investment for CNY 17 million.