CSSC Science& Technology Co., Ltd completed the acquisition of Haiwei New Energy Co., Ltd. of CSIC.
August 11, 2023
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CSSC Science &Technology Co., Ltd (SHSE:600072) agreed to acquire Haiwei (Xinjiang) New Energy Co., Ltd for CNY 844 million on January 11, 2022. On November 15, 2022, CSSC Science& Technology received ?Approval of CSSC Science& Technology Co., Ltd.?s Asset Reorganization and Supporting Funding? (License [2022] No. 544) issued by the State-owned Assets Supervision and Administration Commission of the State Council, agreeing in principle to the overall plan of the Company?s acquisition of assets through the issuance of shares and cash and raising of supporting funds. As on November 16, 2022, The shareholders of CSSC Science & Technology has approved the deal at 1st Extraordinary Shareholders Meeting held on November 15, 2022. As on March 2, 2023, Transaction has been approved by CSSC's board. China International Capital Corporation Limited (SEHK:3908) acted as financial advisor, DeHeng Law Offices acted as a legal advisor and Grant Thornton China acted as an accountant to CSSC Science& Technology Co., Ltd. Commerce & Finance Law Offices advised the Deheng Law Offices, and BDO China Shu Lun Pan Certified Public Accountants advised Grant Thornton China.
CSSC Science& Technology Co., Ltd (SHSE:600072) completed the acquisition of Haiwei (Xinjiang) New Energy Co., Ltd. of CSIC on August 11, 2023.
CSSC Science & Technology Co Ltd is a China-based company mainly engaged in engineering, survey and design businesses. The Company's main businesses include design and engineering general contracting, geological survey and construction, engineering supervision and land consolidation services. It is also engaged in the research and development, production and sales of marine accessories. The Company conducts its businesses in domestic and overseas markets.