Yunnan Yuntianhua Co., Ltd. cancelled the acquisition of 51% stake in Kunming Tiantai E-Commerce Co., Ltd. from Yunnan Phosphate Chemical Group Co., Ltd. and Beijing Guogong Network Technology Co., Ltd.
January 02, 2019 at 10:30 am IST
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Yunnan Yuntianhua Co., Ltd. (SHSE:600096) agreed to acquire 51% stake in Kunming Tiantai E-Commerce Co., Ltd. from Yunnan Phosphate Chemical Group Co., Ltd. and Beijing Guogong Network Technology Co., Ltd. for CNY 0.98 million on January 2, 2018. Yunnan Yuntianhua Co., Ltd. will acquire 40% stake from Yunnan Phosphate Chemical Group Co., Ltd. for CNY 0.77 million and 11% stake from Beijing Guogong Network Technology Co., Ltd. for CNY 0.21 million. After the completion of the transaction, Yunnan Yuntianhua Co., Ltd. will own 51% stake and Yunnan Phosphate Chemical Group Co., Ltd. will own 49% stake in Kunming Tiantai E-Commerce Co., Ltd. The transaction has been approved by the Board of Directors of Yunnan Yuntianhua Co., Ltd. during the 24th session of the 7th directorate on January 2, 2018.
Yunnan Yuntianhua Co., Ltd. (SHSE:600096) cancelled the acquisition of 51% stake in Kunming Tiantai E-Commerce Co., Ltd. from Yunnan Phosphate Chemical Group Co., Ltd. and Beijing Guogong Network Technology Co., Ltd. on January 2, 2019.
Yunnan Yuntianhua Co Ltd is a China-based company principally engaged in the production and sale of fertilizers, chemical raw materials and products, phosphate fertilizers and phosphate mining. The Company is mainly engaged in fertilizer business, phosphate mining business, engineering materials business, coal mining business, trade and logistics business, phosphorus chemical business and new materials business. The Company's main products include urea products, monoammonium phosphate, diammonium phosphate, feed-grade calcium phosphate salts, compound fertilizer products, polyoxymethylene and yellow phosphorus. The Company distributes its products within the domestic market and to overseas markets.
Yunnan Yuntianhua Co., Ltd. cancelled the acquisition of 51% stake in Kunming Tiantai E-Commerce Co., Ltd. from Yunnan Phosphate Chemical Group Co., Ltd. and Beijing Guogong Network Technology Co., Ltd.