China Northern Rare Earth High-Tech Co.,Ltd. agreed to acquire additional 30% stake in Baogang Tiancai Jingjiang Sci-Tech Co., Ltd. from Feng De and five natural persons for CNY 52.9 million.
October 27, 2017 at 12:00 am EDT
China Northern Rare Earth (Group) High-Tech Co.,Ltd. (SHSE:600111) agreed to acquire additional 30% stake in Baogang Tiancai Jingjiang Sci-Tech Co., Ltd. from Feng De, Feng Qingde, Yu Pengcheng, Feng Junde, Xu Chaoliang and Zhu Jienv for CNY 52.9 million on October 27, 2017. The deal has been approved by the Board of Directors of China Northern Rare Earth on October 27, 2017. This transaction does not need approval from the shareholders’ meeting of China Northern Rare Earth (Group) High-Tech Co., Ltd.