Guangxi Sunshine Forestry Development Co., Ltd. signed equity swap agreement to acquire 12% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd for CNY 61.3 million.
January 10, 2017
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Guangxi Sunshine Forestry Development Co., Ltd. signed equity swap agreement to acquire 12% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd (SZSE:000518) for CNY 61.3 million on January 6, 2017. Jiangsu Sihuan Bioengineering plans to swap 100% stake in Guangxi Intercontinental Forestry Investment Co., Ltd. from Guangxi Sunshine Forestry Development Co., Ltd. with 12% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. After this transaction, Jiangsu Sihuan Bioengineering will hold 88% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. and 100% stake in Guangxi Intercontinental Forestry Investment Co., Ltd. Transaction price for 12% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. is CNY 61.3 million and price for 100% stake in Guangxi Intercontinental Forestry Investment Co., Ltd. is CNY 59 million. The price difference of CNY 2.32 million between Beijing Sihuan Biopharmaceutical Co. Ltd. and Guangxi Intercontinental Forestry Investment Co., Ltd. will be paid by Guangxi Sunshine Forestry Development Co., Ltd. to Jiangsu Sihuan Bioengineering within five working days after the completion of legal equity delivery procedures in a lump sum in cash. The transaction has been approved by the Board of Directors of Jiangsu Sihuan Bioengineering Co., Ltd.
JIANGSU SIHUAN BIOENGINEERING CO., LTD is a China-based company principally engaged in the research, development, manufacture and distribution of medicines and health supplements. The Companyâs main products include interleukin, erythropoietin (EPO), granulocyte colony-stimulating factor (G-CSF), tablets, bulk drugs, infusion glass bottles, soft bag infusion, syrup and healthcare products, among others. The Company is also engaged in landscape engineering, maintenance projects, the sale of nursery stocks and other businesses. The Company distributes its products in domestic market and to overseas markets.
Guangxi Sunshine Forestry Development Co., Ltd. signed equity swap agreement to acquire 12% stake in Beijing Sihuan Biopharmaceutical Co. Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd for CNY 61.3 million.
JIANGSU SIHUAN BIOENGINEERING CO., LTD 
