Shanghai Yili Enterprise Development Co., Ltd. completed the acquisition of 21% stake in Netac Technology Co., Ltd. from Zhongke Huitong Equity Investment Fund Co., Ltd.
January 11, 2018
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Shanghai Yili Enterprise Development Co., Ltd. signed a share transfer agreement to acquire 21% stake in Netac Technology Co., Ltd. (SZSE:300042) from Zhongke Huitong (Shenzhen) Equity Investment Fund Co., Ltd. for CNY 1.1 billion on December 10, 2017. As per terms, the shares will be acquired at CNY 39.198 per share. On December 14, 2017, share transfer supplemental agreement is signed as per which deal terms revised. Shanghai Yili Enterprise Development Co., Ltd. will now acquire the stake at CNY 39.19 per share. Post completion, Zhongke Huitong (Shenzhen) Equity Investment Fund Co., Ltd. will not own any stake in Netac Technology Co., Ltd. In related deal, Shanghai Yili Enterprise Development Co., Ltd. signed agreement to acquire stake in Netac Technology Co., Ltd. from Cheng Xiaohua. Shanghai Yili Enterprise Development Co., Ltd. will acquire a total of 24.9% stake i.e. 33.3 million shares in both the deals.
Shanghai Yili Enterprise Development Co., Ltd. completed the acquisition of 21% stake in Netac Technology Co., Ltd. (SZSE:300042) from Zhongke Huitong (Shenzhen) Equity Investment Fund Co., Ltd. on January 11, 2018.
Netac Technology Co., Ltd. is a China-based company principally engaged in the research, development, production and sales of flash memory application and mobile storage products. The Company is also engaged in the operation of related technology patent and the house leasing business. The Company's main products include flash drives, mobile hard drives, flash memory control chips, solid state drives and flash memory modules. The Company mainly conducts its business in domestic market.
Shanghai Yili Enterprise Development Co., Ltd. completed the acquisition of 21% stake in Netac Technology Co., Ltd. from Zhongke Huitong Equity Investment Fund Co., Ltd.
NETAC TECHNOLOGY CO., LTD. 
