Bosun Tools Co., Ltd. cancelled the acquisition of an additional 2.08% stake in GRIMP Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund Limited Partnership.
April 11, 2018
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Bosun Tools Co., Ltd. (SZSE:002282) signed an equity transfer agreement to acquire an additional 2.08% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership for CNY 9.7 million on April 12, 2017. Post completion, Bosun Tools Co., Ltd. will increase stake to 8.34% and West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership will hold no stake in GRIPM Advanced Materials Co., Ltd. In related transaction, Beijing Zhongyelian Energy Technology Co., Ltd. and Chengdu Aerospace Industry Internet Intelligent Manufacturing Industry Investment Fund Partnership agreed to acquire an additional 3.85% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership on April 12, 2017.
For the year ended December 31, 2016, GRIPM Advanced Materials Co., Ltd. had total assets of CNY 565 million, net assets of CNY 461 million and revenues of CNY 1.17 billion. This transaction does not require the approval from the Bosun Tools Co., Ltd's directorate and stockholders.
Bosun Tools Co., Ltd. (SZSE:002282) cancelled the acquisition of an additional 2.08% stake in GRIPM Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund (Chengdu) Limited Partnership on April 12, 2018.
GRIPM Advanced Materials Co Ltd is a China-based company mainly engaged in the design, research and development, production and sales of non-ferrous metal powder materials. The Companyâs main products include copper-based metal powder materials, such as electrolytic copper metal powder materials, atomized copper-based metal powder materials and other copper-based metal powder materials, microelectronics tin-based solder powder materials and three-dimensional (3D) ) printing powder materials, etc. The Company conducts its businesses within the China market and to overseas markets such as the European, American, and Asia-Pacific regions.
Bosun Tools Co., Ltd. cancelled the acquisition of an additional 2.08% stake in GRIMP Advanced Materials Co., Ltd. from West Tourism Development Equity Investment Fund Limited Partnership.