Shanghai Furen Industrial Co., Ltd completed the acquisition of Kaifeng Pharmaceutical Co.,Ltd. from group of sellers.
The deal is subject to second approval of the Board of Directors of Shanghai Furen Industrial, approval by the shareholders of Shanghai Furen Industrial, approval of the The People's Republic of China Ministry of Commerce Anti-monopoly Bureau and approval of the CSRC. The transaction was approved by the Board of Directors of Shanghai Furen Industrial on December 20, 2015 and September 6, 2016. On May 13, 2016, the transaction was approved by shareholders of Shanghai Furen Industrial. The application for approval from CSRC has been cancelled on October 11, 2016. As of August 31, 2017, proceeds will be used for stake acquisition, project fund and operating fund. On July 19, 2016, the Ministry of Commerce of the People's Republic of China Anti-monopoly Bureau issued the Notice on no Implementation of Further Review on the matter. On October 13, 2017, the transaction was approved by the 3rd session of the 7th meeting of the Board of Directors of Shanghai Furen Industrial (Group) Co., Ltd. On November 1, 2017, the transaction was approved by the 1st special Shareholders 'Meeting of 2017 of Shanghai Furen Industrial (Group) Co., Ltd. On November 10, 2017, the transaction was approved by the 5th session of the 7th meeting of the Board of Directors of Shanghai Furen Industrial (Group) Co., Ltd. On November 29, 2017, the transaction is approved by the China Securities Regulatory Commission.
Shenwan Hongyuan Securities Underwriting Sponsor Co., Ltd. acted as financial advisor, Dacheng Law Offices acted as legal advisor and Hongjiang and Guo Hui of Ruihua Certified Public Accountants, LLP acted as accountants to Shanghai Furen Industrial (Group) Co., Ltd. As of September 1, 2017, Jin Hongjiang and Guo Hui were replaced by Zhang Anfeng and Cui Huawei of Ruihua Certified Public Accountants, LLP who now acted as accountants to Shanghai Furen Industrial (Group) Co., Ltd.
Shanghai Furen Industrial (Group) Co., Ltd (SHSE:600781) completed the acquisition of Kaifeng Pharmaceutical (Group) Co.,Ltd. from group of sellers on December 26, 2017. As approved by the Kaifeng City Industry and Commerce Administration Administration, Kaifeng Pharmaceutical (Group) Co.,Ltd. completed the relevant change of registry procedures to Shanghai Furen Industrial (Group) Co., Ltd.