Lomon Billions Group Co., Ltd completed the acquisition of 15.7% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. from China National Nuclear Corporation.
December 23, 2019
Share
Lomon Billions Group Co., Ltd (SZSE:002601) agreed to acquire 15.7% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) from China National Nuclear Corporation for approximately CNY 870 million on November 8, 2019. Lomon Billions Group Co., Ltd will acquire 97.2 million shares at CNY 8.98 per share. After the completion of the transaction, China National Nuclear Corporation will no longer hold shares in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd., and Lomon Billions Group Co., Ltd will become the largest shareholder of Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. Lomon Billions Group Co., Ltd uses its own funds and bank loans to acquire Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. The transaction needs to be submitted to the competent authority for approval. Transaction was approved in the 23rd meeting of the 6th directorate of Lomon Billions Group Co., Ltd on October 18, 2019.
Lomon Billions Group Co., Ltd (SZSE:002601) completed the acquisition of 15.7% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) from China National Nuclear Corporation on December 23, 2019.
LB Group Co Ltd, formerly Lomon Billions Group Co Ltd, is a China-based company principally engaged in the manufacture and distribution of fine chemical products. The Company's main products include titanium dioxide, primarily consisting of rutile type titanium dioxide, which is applied in paints, plastics, paper making, rubber, printing oil, chemical fiber, ceramics and cosmetics industries, among others, as well as zirconium products and aluminum sulfate, among others. The Company distributes its products in domestic and overseas markets.
Lomon Billions Group Co., Ltd completed the acquisition of 15.7% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. from China National Nuclear Corporation.