HaiNan Yedao Co., Ltd. entered into a framework agreement to acquire 80% stake in Beijing BKS Media Technology Inc. from Yinchuan BKS Equity Investment Partnership (Limited Partnership), Beijing BKS Sports Industry Management Co., Ltd., Beijing Zhongcai BKS Sports Industry Investment Center (Limited Partnership), Beijing Juli Hongji Investment Management Co., Ltd,Liu Xiaohong, Liu Lixin and others.
June 09, 2020
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HaiNan Yedao (Group) Co., Ltd. (SHSE:600238) entered into a framework agreement to acquire 80% stake in Beijing BKS Media Technology Inc. from Yinchuan BKS Equity Investment Partnership (Limited Partnership), Beijing BKS Sports Industry Management Co., Ltd., Beijing Zhongcai BKS Sports Industry Investment Center (Limited Partnership), Beijing Juli Hongji Investment Management Co., Ltd,Liu Xiaohong, Liu Lixin and others on June 9, 2020. The consideration will be in shares at a price of CNY 4.09 per share. The transaction has been approved by board of HaiNan Yedao (Group) Co., Ltd. The transaction plan has been reviewed and approved by the internal decision-making body of the counterparties. The following approvals are pending, After the audit report and evaluation report of this transaction are issued, the Company once again convenes the board of directors to review and approve the transaction, The Company convenes a general meeting of shareholders to consider and approve the transaction plan and the proposal that the counterparty is exempt from issuing tender offer, Approval of transaction fromChina Securities Regulatory Commission and Other approvals or approvals that may be involved.
Hainan Yedao (Group) Co., Ltd. is a China-based company principally engaged in the production and sales of liquor products. The Company operates through four segments. The Liquor segment is engaged in taking Yedao tortoise deer wines and Yedao Haiwang Wines as main products. The Beverage segment is engaged in taking series of coconut milk drinks as main products. The Real Estate segment is mainly involved in the development and operation of Kangyang residential real estate. The Trade and Supply Chain segment is mainly engaged in bulk agricultural products trade.
HaiNan Yedao Co., Ltd. entered into a framework agreement to acquire 80% stake in Beijing BKS Media Technology Inc. from Yinchuan BKS Equity Investment Partnership (Limited Partnership), Beijing BKS Sports Industry Management Co., Ltd., Beijing Zhongcai BKS Sports Industry Investment Center (Limited Partnership), Beijing Juli Hongji Investment Management Co., Ltd,Liu Xiaohong, Liu Lixin and others.