Sichuan Jinyu Automobile City Co., Ltd. cancelled the acquisition of LBP Medicine Science & Technology Co., Ltd from a group of sellers.
April 10, 2017
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Sichuan Jinyu Automobile City (Group) Co., Ltd. (SZSE:000803) signed an agreement to acquire LBP Medicine Science & Technology Co., Ltd. from a group of sellers for CNY 1.3 billion on December 22, 2016. The consideration will be paid as approximately CNY 490 million in cash and approximately CNY 830 million through issuance of shares. Sichuan Jinyu Automobile City (Group) Co., Ltd. will raise no more than approximately CNY 830 million by issuing no more than 41.7 million shares at CNY 19.9 per share to fund the cash portion of the consideration. For the year ended December 31, 2015, LBP Medicine Science & Technology Co., Ltd. had total assets of approximately CNY 330 million, revenues of approximately CNY 200 million, operating income of CNY 48.6 million, net income of CNY 47.2 million and owner's equity of approximately CNY 290 million. The transaction is subject to the approval of another directorate of Sichuan Jinyu Automobile City (Group) Co., Ltd., approval from the shareholders of Sichuan Jinyu Automobile City (Group) Co., Ltd. and China Securities Regulatory Commission. The transaction was approved by the shareholders of LBP Medicine Science & Technology Co., Ltd. and by the Board of Sichuan Jinyu Automobile City (Group) Co., Ltd. on December 22, 2016. Central China Securities Co., Ltd. (SEHK:1375) served as a financial advisor to Sichuan Jinyu Automobile City (Group) Co., Ltd.
Sichuan Jinyu Automobile City (Group) Co., Ltd. (SZSE:000803) cancelled the acquisition of LBP Medicine Science & Technology Co., Ltd. from a group of sellers on April 11, 2017.
Guangzhou LBP Medicine Science & Technology Co Ltd is a China-based company mainly engaged in the research, development, production and sales of in vitro diagnostic reagents and instruments. The Companyâs main products are pathological diagnostic reagents and instruments, covering three major technology platforms for cytological diagnosis, molecular diagnosis and immunodiagnosis, including LBP series, IHC series, PCR series and FISH series, such as integrated slide and dyeing machine, liquid-based cell and microorganism processing, preservation reagents, automatic nucleic acid molecular hybridization instrument, automatic slide processing system and immunochromogenic reagents, etc. Its products are mainly used in pathological diagnosis of tumors. The Company operates its businesses within the domestic market and to overseas markets.
GUANGZHOU LBP MEDICINE SCIENCE & TECHNOLOGY CO., LTD. 
