Shenyang Kaishenglong Intelligent Technology Co., Ltd completed the acquisition of 82% stake in Shenyang Bio-Chem Co., Ltd from Dalian BIO-CHEM Company Limited for CNY 63.2 million
December 30, 2022
Share
Shenyang Kaishenglong Intelligent Technology Co., Ltd agreed to acquire Shenyang Bio-Chem Co., Ltd from Dalian BIO-CHEM Company Limited (SHSE:603360) on May 18, 2022. Shenyang Kaishenglong Intelligent Technology signed a Supplementary Agreement to the Equity Transfer Agreement to acquire 82% stake in Shenyang Bio-Chem Co., Ltd from Dalian BIO-CHEM Company Limited (SHSE:603360) on December 30, 2022. Under the terms of transaction, Kaishenglong, should pay 51% of the pricing amount to the Dalian BIO-CHEM before December 30, 2022, and complete the equity transfer. As of March 31, 2022, Shenyang Bio-Chem Co., Ltd reported total assets of CNY 246.50 million and total common equity CNY 134.88 million. Board of directors of Dalian BIO-CHEM Company Limited have approved the transaction. .Dalian BIO-CHEM Company Limited held the fifteenth meeting of the board of directors on December 30, 2022, and reviewed and approved the Proposal on Adjusting the Equity Transfer Plan by now sell a 82% stake in Shenyang Bio-Chem Co., Ltd
Shenyang Kaishenglong Intelligent Technology Co., Ltd completed the acquisition of 82% stake in Shenyang Bio-Chem Co., Ltd from Dalian BIO-CHEM Company Limited (SHSE:603360) for CNY 63.2 million on December 30, 2022. Dalian BIO-CHEM has received the amount of CNY 32,250,000 on December 30, 2022, and completed the registration procedures for the change of property rights related to this transaction on the same day. The equity transferee shall remit the remaining 49% transfer payment to the account of the equity transferor within one year after the audit report is issued.
Dalian BIO-CHEM Company Limited is a China-based company mainly engaged in the manufacture and sales of original isothiazolinone industrial fungicides and chemical intermediates. The Company is a professional manufacturer of various industrial and civil series fungicides, preservatives, anti-mold agents and organic chemical intermediates. Its products are using in the fields of paper and puling, water treatment, metal working fluid, plastic, coating, marine paint, wood, leather, cosmetics, personal care, oil-filed, textiles, fiber, carpet, construction materials and others. The Company distributes its products in domestic market and to overseas markets.
Shenyang Kaishenglong Intelligent Technology Co., Ltd completed the acquisition of 82% stake in Shenyang Bio-Chem Co., Ltd from Dalian BIO-CHEM Company Limited for CNY 63.2 million