Anhui Gourgen Traffic Construction Co.,Ltd. entered into an agreement to acquire Xiangyuan Construction Co., Ltd. for approximately CNY 200 million.
September 31, 2021
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Anhui Gourgen Traffic Construction Co.,Ltd. (SHSE:603815) entered into an agreement to acquire Xiangyuan Construction Co., Ltd. for approximately CNY 200 million on August 27, 2021. The consideration shall be payable in two installments. First installment of CNY 117 million payable within five working days after signing of agreement and approval by shareholders while second installment of CNY 78 million payable within 5 working days after completion. As of June 30, 2021, Xiangyuan Construction Co., Ltd. has reported total assets of CNY 838.40 million and net assets of CNY 156.48 million. The board of directors and shareholders of Anhui Gourgen approved the transaction.
Anhui Gourgen Traffic Construction Co., Ltd. is a China-based company mainly engaged in the engineering construction related to highway and municipal infrastructure construction. The Company operates three business segments. The Highway and Municipal Infrastructure Construction segment is engaged in the process flow including roadbed engineering, pavement engineering, bridge and culvert engineering and tunnel engineering. The Survey Design and Test Inspection segment provides engineering survey, planning research, preliminary design services, and produces reports, drawings and cost tables, tests the quality and technical indicators of materials, components, engineering products and engineering entities used in the project. The Landscaping segment is engaged in green space and environmental construction projects covering landscape construction projects. The Company conducts its businesses primarily within the domestic market.
ANHUI GOURGEN TRAFFIC CONSTRUCTION CO.,LTD. 