Shanghai Zizhu Hi-tech Zone Co., Ltd. completed the acquisition of 11.78% stake in Shanghai Welltech Automation Co., Ltd. from Shanghai Zijiang Enterprise Group Co., Ltd.
January 20, 2017
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Shanghai Zizhu Hi-tech Zone (Group) Co., Ltd. agreed to acquire 11.78% stake in Shanghai Welltech Automation Co., Ltd. (SZSE:002058) from Shanghai Zijiang Enterprise Group Co., Ltd. (SHSE:600210) for approximately CNY 440 million on November 18, 2016. Shanghai Zizhu will acquire 17.4 million shares of Shanghai Welltech at CNY 25.29 per share. Board of Directors of Shanghai Zijiang Enterprise Group Co., Ltd. approved the transaction on November 18, 2016. As of December 27, 2016, the deal was approved by the shareholders of Shanghai Zijiang Enterprise Group.
Shanghai Zizhu Hi-tech Zone (Group) Co., Ltd. completed the acquisition of 11.78% stake in Shanghai Welltech Automation Co., Ltd. (SZSE:002058) from Shanghai Zijiang Enterprise Group Co., Ltd. (SHSE:600210) on January 20, 2017.
SHANGHAI WELLTECH AUTOMATION CO., LTD. is a China-based company principally engaged in the manufacture and distribution of automation instruments and meters. The Company's major products include pressure transmitters, electromagnetic flow meters, as well as valves and other instruments. The Company's products are mainly applied in electricity, metallurgy, petroleum, chemical and other traditional industrial fields. The Company distributes its products mainly within domestic market.
Shanghai Zizhu Hi-tech Zone Co., Ltd. completed the acquisition of 11.78% stake in Shanghai Welltech Automation Co., Ltd. from Shanghai Zijiang Enterprise Group Co., Ltd.
SHANGHAI WELLTECH AUTOMATION CO.,LTD. 
