Guangzhou Jointas Chemical Co., Ltd. agreed to acquire 3.08% stake in Zhuhai Glory Friction Material Co., Ltd. from Fortune Chuangtai Equity Investment Enterprise LP fund of Fortune Venture Capital Co., Ltd. and Shenzhen Dachen Chuangheng Equity Investment Enterprise (Limited Partnership) and Shenzhen Dachen Chuangrui Equity Investment Enterprise (Limited Partnership) fund of Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. for CNY 20 million.
January 17, 2020
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Guangzhou Jointas Chemical Co., Ltd. (SZSE:002909) agreed to acquire 3.08% stake in Zhuhai Glory Friction Material Co., Ltd. from Fortune Chuangtai Equity Investment Enterprise LP fund of Fortune Venture Capital Co., Ltd. and Shenzhen Dachen Chuangheng Equity Investment Enterprise (Limited Partnership) and Shenzhen Dachen Chuangrui Equity Investment Enterprise (Limited Partnership) fund of Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. for CNY 20 million on January 17, 2020. Shenzhen Dachen Chuangtai Equity Investment Enterprise will sell 1.11% stake, Shenzhen Dachen Chuangheng Equity Investment Enterprise will sell 1.09% stake and Shenzhen Dachen Chuangrui Equity Investment Enterprise will sell 0.89% stake in Zhuhai Glory Friction Material. The transaction is approved by board of directors of Guangzhou Jointas. Zhuhai Glory reported net assets of CNY 251.94 million and total assets of CNY 440.62 million.
Guangzhou Jointas Chemical Co Ltd is a China-based company principally engaged in the research, development, production and sale of coatings and sealant products, as well as the provision of related services. The Company's main products include silicone sealants, water-based sealants, other sealants, asphalt paint and water-based paint. The Company's products are used in various areas, such as construction, home decoration, container manufacturing, steel structure manufacturing, petrochemical equipment and ship yacht equipment. The Company distributes its products mainly in domestic market.
Guangzhou Jointas Chemical Co., Ltd. agreed to acquire 3.08% stake in Zhuhai Glory Friction Material Co., Ltd. from Fortune Chuangtai Equity Investment Enterprise LP fund of Fortune Venture Capital Co., Ltd. and Shenzhen Dachen Chuangheng Equity Investment Enterprise (Limited Partnership) and Shenzhen Dachen Chuangrui Equity Investment Enterprise (Limited Partnership) fund of Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. for CNY 20 million.