Shenzhen Cereals Holdings Co., Ltd. agreed to acquire 49% stake in Dongguan SZCG Logistics Co., Ltd. from Dongguan Fruits and Vegetables Transaction Market Co., Ltd. for approximately CNY 320 million.
June 02, 2021
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Shenzhen Cereals Holdings Co., Ltd. (SZSE:000019) agreed to acquire 49% stake in Dongguan SZCG Logistics Co., Ltd. from Dongguan Fruits and Vegetables Transaction Market Co., Ltd. for approximately CNY 320 million on June 2, 2021. Within 5 working days from signing the agreement, the Shenzhen Cereals will pay 30% of the transfer price. Within 15 working days from receiving the first payment, the transfer will be completed. Within 7 days from completion, the Shenzhen Cereals will pay 70% of the transfer price. As a result of the transaction, Shenzhen Cereals will indirectly hold 100% stake in Dongguan SZCG. This has been approved in the 15th Meeting of the Shenzhen Cereals’s 10th Directorate held on June 1, 2021.
Shenzhen Cereals Holdings Co Ltd is a China-based company mainly engaged in grain and oil business. The grain and oil trading business is mainly for the further processing of food and feed for customers such as large traders, feed and flour processing enterprises in the industry. The grain and oil processing business mainly deals with the processing and sale of flour, rice, edible oil and other products. The grain and oil reserve service business mainly provides dynamic grain and oil reserve services to local governments based in Shenzhen. The company also provides grain and oil circulation services such as warehousing and logistics, terminal loading and unloading, and quality inspection for upstream and downstream enterprises in the industrial chain.
Shenzhen Cereals Holdings Co., Ltd. agreed to acquire 49% stake in Dongguan SZCG Logistics Co., Ltd. from Dongguan Fruits and Vegetables Transaction Market Co., Ltd. for approximately CNY 320 million.
SHENZHEN CEREALS HOLDINGS CO.,LTD 
