Lishui Haitai Real Estate Co., Ltd. signed an equity transfer agreement to acquire 15.71% stake in Shanghai Rehabilitation Biotechnology Co., Ltd. from Deluxe Family Co., Ltd. for CNY 40 million.
October 31, 2020
Share
Lishui Haitai Real Estate Co., Ltd. signed an equity transfer agreement to acquire 15.71% stake in Shanghai Rehabilitation Biotechnology Co., Ltd. from Deluxe Family Co., Ltd. (SHSE:600503) for CNY 40 million on October 29, 2020. As per terms of the consideration, CNY 20 million shall be paid within three working days after the signing of the agreement and remaining CNY 20 million shall be paid within two years from the date of signing the agreement. Upon completion, Deluxe Family Co., Ltd. no longer holds shares in Shanghai Rehabilitation Biotechnology Co., Ltd. As of June 30, 2020, Shanghai Rehabilitation Biotechnology Co., Ltd. reported total assets of CNY 137.22 million and net assets of CNY 69.18 million. The transaction is approved by the board of directors of Deluxe Family Co., Ltd.
Deluxe Family Co., Ltd. is a China-based company principally engaged in the real estate related businesses. The Companyâs real estate businesses mainly include the development, construction, sales and leasing of residential and office buildings, as well as parking lots. The Company is also engaged in the construction and decoration business, machinery manufacturing and non-metallic mineral product business. The Company is also involved in the investment in innovative technology and financial projects through its subsidiaries, including the graphene, space vehicle, intelligent robot and biomedical projects.
Lishui Haitai Real Estate Co., Ltd. signed an equity transfer agreement to acquire 15.71% stake in Shanghai Rehabilitation Biotechnology Co., Ltd. from Deluxe Family Co., Ltd. for CNY 40 million.