Qingdao Aopa Xinrong Equity Investment Center cancelled the acquisition of 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo.
September 27, 2023
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Qingdao Aopa Xinrong Equity Investment Center agreed to acquire a 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo for approximately CNY 290 million on March 1, 2023. In a related transaction, Gongqingcheng Junshan Investment Partnership agreed to acquire a 26% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo, Fan Xiaofeng and Changzhou Jintan Juntai Investment Consulting Co., Ltd. for approximately CNY 750 million, Liangyuan Selected No. 4 Private Equity Securities Fund managed by Shanghai Liangyuan Assets Management Co., Ltd. agreed to acquire a 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo for approximately CNY 290 million and Hainan Deya Venture Capital Partnership agreed to acquire a 8% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo for approximately CNY 230 million. Under the terms, Qingdao Aopa will acquire 10.6 million shares at a price of CNY 27.15 per share in cash. Currently, Qi Jianguo holds 42.45% stake and post acquisition of all transactions will hold 7.32% stake in Changzhou Langbo Sealing. Qingdao Aopa Xinrong Equity Investment Center will use its own funds or self-raised funds for the consideration.
Qingdao Aopa Xinrong Equity Investment Center cancelled the acquisition of 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo on September 28, 2023.
Changzhou Langbo Sealing Technologies Co., Ltd. is a China-based company which is mainly engaged in research and development, manufacture and sales of automotive rubber parts. The Companyâs main products include round rubber seals, shaft seals, wheel hubs and other miscellaneous pieces of products, such as shaped seals, dust covers, shock pads, pipe joints, jackets and other rubber parts. The Companyâs products are mainly used for automotive air conditioning systems, lighting systems, power steering systems. The Company mainly distributes its products in China.
Qingdao Aopa Xinrong Equity Investment Center cancelled the acquisition of 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo.