Chongqing Wangbian Electric Corp., Ltd. completed the acquisition of 79.97% stake in Yunnan Transformer Electric Co., Ltd. from South Industry Assets Management Company Limited and Shanghai Changwei Equity Investment Partnership (Limited Partnership).
April 31, 2024
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Chongqing Wangbian Electric (Group) Corp., Ltd. (SHSE:603191) agreed to acquire 79.97% stake in Yunnan Transformer Electric Co., Ltd. from South Industry Assets Management Company Limited and Shanghai Changwei Equity Investment Partnership (Limited Partnership) for approximately CNY 560 million on November 22, 2023. As of December 27, 2023, the due diligence reports submitted by each agency on Yunnan Transformer Electric Co., Ltd., and Chongqing Wangbian Electric intend to further Carry out audits, evaluations, and acquisition-related next steps. On December 25, 2023, Chongqing Wangbian Electric paid an additional intention payment of CNY 9 million to Shanghai Changwei Fund and Southern Assets. Yunnan Transformer Electric reported total assets of CNY 1.6 billion and owners equity of CNY 590 million as on September 30, 2023.
Chongqing Wangbian Electric (Group) Corp., Ltd. (SHSE:603191) completed the acquisition of 79.97% stake in Yunnan Transformer Electric Co., Ltd. from South Industry Assets Management Company Limited and Shanghai Changwei Equity Investment Partnership (Limited Partnership) on April 1, 2024.
Chongqing Wangbian Electric Group Corp Ltd is a China-based company mainly engaged in the research, development, production and sales of power transmission and distribution, control equipment and grain-oriented silicon steel. The Company's main products include power transformers, box-type substations, complete sets of electrical equipment, general oriented silicon steel (CGO) and high magnetic induction-oriented silicon steel (HiB). Its products are mainly used in agricultural, industrial, commercial and residential electricity, industry, rail transit and infrastructure construction. The Company mainly conducts its businesses in domestic and overseas markets.
Chongqing Wangbian Electric Corp., Ltd. completed the acquisition of 79.97% stake in Yunnan Transformer Electric Co., Ltd. from South Industry Assets Management Company Limited and Shanghai Changwei Equity Investment Partnership (Limited Partnership).
CHONGQING WANGBIAN ELECTRIC (GROUP) CORP., LTD. 
