Hainan Zhongbairun Trading Co., Ltd. completed the acquisition of Hainan Yangpu Yedao Starch Industry Co., Ltd. from HaiNan Yedao Co., Ltd..
April 05, 2022
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Hainan Zhongbairun Trading Co., Ltd. singed an Acquisition Intention Agreement to acquire Hainan Yangpu Yedao Starch Industry Co., Ltd. from HaiNan Yedao (Group) Co., Ltd. (SHSE:600238) for CNY 71 million on March 9, 2022. Hainan Zhongbairun Trading Co., Ltd. singed an Equity Transfer Contract to acquire Hainan Yangpu Yedao Starch Industry Co., Ltd. from HaiNan Yedao (Group) Co., Ltd. (SHSE:600238) for CNY 71 million on March 25, 2022. Under the terms, the consideration of CNY 71 million includes the price for acquiring 100% equity of Hainan Yangpu Yedao Starch and CNY 53.53 million of debts payable by Hainan Zhongbairun. As of the date of this announcement, HaiNan Yedao has established a co-managed account with Hainan Zhongbairun, and the co-managed account has received CNY 35.5 million. The transaction has been reviewed and approved at the seventh meeting of the eighth board of directors of HaiNan Yedao and submitted to the general meeting of shareholders for deliberation.
Hainan Zhongbairun Trading Co., Ltd. completed the acquisition of Hainan Yangpu Yedao Starch Industry Co., Ltd. from HaiNan Yedao (Group) Co., Ltd. (SHSE:600238) on April 6, 2022. HaiNan Yedao shareholders approved the deal on March 25, 2022.
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.