Guizhou Wujiang Energy Investment Co., Ltd agreed to acquire 14.502753% stake in Guizhou Gas Group Corporation Ltd. (SHSE:600903) from Beijing Dongjia Investment Co., Ltd. for CNY 1.3 billion on March 16, 2023. Under the terms, 165 million shares will be acquired at a price of CNY 8.06 per share in cash. Currently, Beijing Dongjia Investment holds 39.49% stake and post acquisition will hold 24.99% stake in Guizhou Gas Group Corporation.
Guizhou Provincial People's Government State-owned Assets Supervision and Administration Commission and Guiyang Municipal People's Government State-owned Assets Supervision and Administration Commission approved the Companyâs share transfer. On June 15, 2023, the Company received âDecision on No Implementation of Further Review on Business Concentration Anti-monopolyâ issued by the State Administration for Market Regulation, on the transfer of the Companyâs shares.