Beijing Tianrong Environmental Protection Equipment Center and Beijing Chengtong Technology Innovation Investment Co., Ltd. agreed to acquire Beijing Fusion Environmental Co., Ltd. from CECEP Environmental Protection Equipment Co., Ltd. (SZSE:300140) for approximately CNY 1.06 billion on December 10, 2020. Under the terms of the acquisition, Beijing Tianrong Environmental will acquire 7.9% stake and Beijing Chengtong Technology will acquire 92.1% stake. Consideration is CNY 633 million and CNY 429.895231 million of debt acquired. Transaction has been approved by CECEP`s ninth meeting of the seventh board of directors on December 10, 2020 and December 28, 2020, and the fifth extraordinary general meeting of shareholders in 2020. On January 26, 2021, the company has received the Enterprise State-owned Assets Transaction Certificate issued by ChinaBeijing Equity Exchange Co., Ltd. and the total transfer price. Beijing Tianrong Environmental Protection Equipment Center and Beijing Chengtong Technology Innovation Investment Co., Ltd. completed the acquisition of Beijing Fusion Environmental Co., Ltd. from CECEP Environmental Protection Equipment Co., Ltd. (SZSE:300140) on January 29, 2021.