Minfeng Special Paper Co., Ltd. cancelled the acquisition of remaining 25% stake in Zhejiang Minfeng Shandashi Paper Industry Co., Ltd. from Zanders GmbH.
November 05, 2019
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Minfeng Special Paper Co., Ltd. (SHSE:600235) agreed to acquire remaining 25% stake in Zhejiang Minfeng Shandashi Paper Industry Co., Ltd. from Zanders GmbH for CNY 14.3 million on November 5, 2018. After completion of the transaction, Minfeng Special Paper will own 100% stake in Zhejiang Minfeng Shandashi Paper Industry. Zhejiang Minfeng Shandashi Paper Industry reported total assets of CNY 68.3 million and net assets of CNY 67 million as of December 31, 2017 and operating profit of CNY 31.5 million and net loss of CNY 3.1 million for the year ended December 31, 2017. The transaction is approved by the Board of Minfeng Special Paper Co., Ltd.
Minfeng Special Paper Co., Ltd. (SHSE:600235) cancelled the acquisition of remaining 25% stake in Zhejiang Minfeng Shandashi Paper Industry Co., Ltd. from Zanders GmbH on November 5, 2019.
MINFENG SPECIAL PAPER CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of specialty paper. The Company's main products consist of cigarette paper series, industrial paper, tracing paper series and capacitor paper series, among others. The Company distributes its products in both domestic market and to overseas markets.
Minfeng Special Paper Co., Ltd. cancelled the acquisition of remaining 25% stake in Zhejiang Minfeng Shandashi Paper Industry Co., Ltd. from Zanders GmbH.
MINFENG SPECIAL PAPER CO.,LTD. 
