Beijing Xinrong Investment Management Co., Ltd. and Limin Company Limited cancelled the acquisition of Hebei Veyong Biochemical Co., Ltd., Hebei Veyong Animal Pharmaceutics Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. from ENN Ecological Holdings Co.,Ltd..
October 09, 2019
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Beijing Xinrong Investment Management Co., Ltd. and Limin Company Limited signed a framework agreement to acquire Hebei Veyong Biochemical Co., Ltd., Hebei Veyong Animal Pharmaceutics Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. from ENN Ecological Holdings Co.,Ltd. (SHSE:600803) for CNY 800 million on October 10, 2018. Beijing Xinrong Investment Management Co., Ltd. and Limin Company Limited signed a share transfer agreement to acquire 60% stake in Hebei Veyong Biochemical Co., Ltd., 25% stake in Hebei Veyong Animal Pharmaceutics Co., Ltd. and 15% stake in Inner Mongolia Xinweiyuan Biochemical Co., Ltd. from ENN Ecological Holdings Co.,Ltd. for approximately CNY 760 million on March 12, 2019. Under the terms of a framework agreement the final transaction price will be between CNY 750 million and CNY 800 million. Under the terms of the share transfer agreement, ENN Ecological Holdings will transfer Hebei Veyong Biochemical Co., Ltd.’s 60% stake, Hebei Veyong Animal Pharmaceutics Co., Ltd.’s 25% stake, and Inner Mongolia Xinweiyuan Biochemical Co., Ltd.’s 15% stake to Beijing Xinrong Investment Management Co., Ltd. and Limin Company Limited for CNY 480 million, CNY 200 million and CNY 78.6 million respectively. For the year ended December 31, 2017, Hebei Veyong Biochemical Co., Ltd. had total assets of CNY 1.1 billion, net assets of CNY 354.9 million, revenue of CNY 1.3 billion and net profit of CNY 46.3 million; Hebei Veyong Animal Pharmaceutics Co., Ltd. had total assets of CNY 222.1 million, net assets of CNY 84.4 million, revenue of CNY 235.3 million and net profit of CNY 10.5 million; and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. had total assets of CNY 140.8 million, net assets of CNY 45.6 million, revenue of CNY 194.1 million and net profit of CNY 9.1 million. The transaction is subject to approval from shareholders of Chongqing Landai Powertrain Corp., Ltd. and by the operator for anti-monopoly. The transaction has been approved by the Board of ENN Ecological Holdings Co.,Ltd. The agreement has been approved by Board of EEN Ecological Holdings on March 12, 2019. On March 12, 2019, the transaction was approved by the Board of Chongqing Landai Powertrain Corp., Ltd. and shareholders of Hebei Veyong Biochemical Co., Ltd., Hebei Veyong Animal Pharmaceutics Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd.
Beijing Xinrong Investment Management Co., Ltd. and Limin Company Limited cancelled the acquisition of Hebei Veyong Biochemical Co., Ltd., Hebei Veyong Animal Pharmaceutics Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. from ENN Ecological Holdings Co.,Ltd. (SHSE:600803) on October 10, 2019.
ENN Natural Gas Co Ltd is a China-based company principally engaged in clean energy business. The Company's main businesses include natural gas retail business, natural gas production and wholesale business, natural gas direct sales business, engineering construction and installation business, integrated energy sales and services, extended business, coal business, energy chemical business and chemical trading business. The Company operates its businesses both in the domestic market and overseas markets.
ENN NATURAL GAS CO.,LTD. 
