China National Nuclear Corporation completed the acquisition of 15.66% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. from Chen Chaodian and Wang Muhong.
June 28, 2013 at 12:00 am EDT
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China National Nuclear Corporation agreed to acquire 15.66% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) from Chen Chaodian and Wang Muhong for approximately CNY 720 million in stock on April 1, 2013. China National Nuclear will exchange 35.64 million shares in SUFA Technology Industry Co.,Ltd for 64.81 million shares in Guangdong Orient. Chen Chaodian sold 54.3 million shares representing 13.12% stake and Wang Muhong sold 10.51 million shares representing 2.54% stake in Guangdong Orient Zirconic. Post transaction, Chen Chaodian will hold 45 million shares representing 10.87% stake and Wang Muhong will hold 17.6 million shares representing 4.25% stake in Guangdong Orient Zirconic.
China National Nuclear Corporation completed the acquisition of 15.66% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) from Chen Chaodian and Wang Muhong on June 28, 2013.
Guangdong Orient Zirconic ind sci & tech Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of zirconium and zirconium products. The Company's major products include zirconium oxychloride, zirconium dioxide, zirconium silicate, compound zirconium dioxide, structural ceramics, zirconium sponge, zircon sands and fused zirconium. Its products are applied in electronics, ceramics, glass, petrochemical, building material, medicine, textile, aerospace, machinery and commodity industries. The Company distributes its products within domestic market and to overseas markets.
China National Nuclear Corporation completed the acquisition of 15.66% stake in Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. from Chen Chaodian and Wang Muhong.