Tibet Shengbang Holding Co., Ltd. completed the acquisition of 12.74% stake in Tibet Galaxy Science & Technology Development Co., Ltd. from Li Min and Ma Shufen.
June 09, 2020
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Tibet Shengbang Holding Co., Ltd. signed a share transfer intention agreement to acquire 12.74% stake in Tibet Galaxy Science & Technology Development Co., Ltd. from Li Min and Ma Shufen on December 17, 2019. On February 10, 2020, Tibet Shengbang Holding Co., Ltd signed a share transfer agreement to acquire 12.74% stake in Tibet Galaxy Science & Technology Development Co., Ltd. from Li Min and Ma Shufen for approximately CNY 300 million. Under the term, Tibet Shengbang Holding Co., Ltd. agreed to acquire 33.61 million shares of Tibet Galaxy Science & Technology Development for CNY 8.9251 per share. The payment will be done within 2 working days after transfer completion.
Tibet Shengbang Holding Co., Ltd. completed the acquisition of 12.74% stake in Tibet Galaxy Science & Technology Development Co., Ltd. from Li Min and Ma Shufen on June 9, 2020. Tibet Shengbang Holding had received the "Securities Transfer Registration Confirmation" issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.
Tibet Development Co Ltd, formerly Tibet Galaxy Science & Technology Development Co., Ltd., is a China-based company principally engaged in the research and development, production and sales of beer. The Company mainly sells its products under the brand name of Lhasa Beer. The Company is also involved in the production and sales of beverages, purified water and other alcoholic products through its subsidiaries. The Company mainly distributes its products in domestic market.
Tibet Shengbang Holding Co., Ltd. completed the acquisition of 12.74% stake in Tibet Galaxy Science & Technology Development Co., Ltd. from Li Min and Ma Shufen.
TIBET DEVELOPMENT CO., LTD. 
