C.P. Pokphand Co. Ltd. (SEHK:43) entered into share purchase agreement to acquire 70% stake in Lianyungang Chia Tai Agro-Industry Development Co., Ltd from Charoen Pokphand Enterprise (Taiwan) Co., Ltd. (TSEC:1215) for CNY 66.5 million on February 18, 2019. The consideration is paid in cash on the fifth business day following the date of closing. In related transaction, 5 agreements has been signed. The consideration will be satisfied by use of the C.P. Pokphand Co. Ltd and its subsidiaries available internal resources and external financing. Upon completion, Lianyungang Chia Tai Agro-Industry Development will become an indirect subsidiary of the C.P. Pokphand.

Lianyungang Chia Tai Agro-Industry Development reported net assets of CNY 54.5 million and net profit of CNY 6.8 million as of December 31, 2018. The deal is conditional upon satisfaction of certain conditions, including written confirmation or resolution from the other shareholder of Lianyungang Chia Tai Agro-Industry Development Co., Ltd granting its consent to the transaction and waiving its right of first refusal; all other necessary consents from other third parties as required under the transaction and all necessary approvals from and registrations or filings with the government authorities. Following satisfaction or waiver (where permitted) of the conditions precedent under the transaction, closing will take place on the day on which Lianyungang Chia Tai Agro-Industry Development completes all necessary registrations or filings with the government authorities.

C.P. Pokphand Co. Ltd. (SEHK:43) cancelled the acquisition of 70% stake in Lianyungang Chia Tai Agro-Industry Development Co., Ltd from Charoen Pokphand Enterprise (Taiwan) Co., Ltd. (TSEC:1215) on February 18, 2020.