Wu Maojiang signed a share transfer agreement to acquire a 5% stake in Guangdong SACA Precision Manufacturing Co., Ltd. from Guangdong Xingye Investment Limited Liability Company for approximately CNY 160 million.
July 01, 2021
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Wu Maojiang signed a share transfer agreement to acquire a 5% stake in Guangdong SACA Precision Manufacturing Co., Ltd. (SZSE:300464) from Guangdong Xingye Investment Limited Liability Company for approximately CNY 160 million on July 2, 2021. Out of the total consideration, CNY 33 million to be paid within 10 days of signing of an agreement, CNY 50 million to be paid within 30 days after the completion of transfer of shares and remaining CNY 80.849536 million shall be paid within 90 days after the completion of transfer of shares. Under the transaction, Wu Maojiang will acquire 17.6562 million shares of Guangdong SACA Precision Manufacturing Co., Ltd. Post transaction, Guangdong SACA Precision Manufacturing Co., Ltd. will have 22.69% stake in Guangdong SACA Precision Manufacturing Co., Ltd.
Guangdong SACA Precision Manufacturing Co., Ltd. is a China-based company engaged in the research and development, design, manufacture and distribution of precision metal fittings. The Company's products include slides, hinges and other precision metal fittings. Slides include heavy-duty slides, silent slides, hidden slides and buffered slides, among others. Hinges include stainless steel hinges, American hinges and buffered hinges, among others. Its products are widely used in furniture, home appliances, industry, financial, automotive and other fields.
Wu Maojiang signed a share transfer agreement to acquire a 5% stake in Guangdong SACA Precision Manufacturing Co., Ltd. from Guangdong Xingye Investment Limited Liability Company for approximately CNY 160 million.