State Development Seed Technology Group Co., Ltd. completed the acquisition of 20% stake in Hefei Fengle Seed Co.,Ltd from Hefei Construction Investment and Holding Co.,Ltd.
April 25, 2024
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State Development Seed Technology Group Co., Ltd. agreed to acquire 20% stake in Hefei Fengle Seed Co.,Ltd (SZSE:000713) from Hefei Construction Investment and Holding Co.,Ltd. for CNY 1.09 billion on July 17, 2023. As on December 6, 2023, the share transfer agreement was signed. Transaction was recently approved by State Administration for Market Regulation. Transaction is still subject to State-owned Assets Supervisory Administration, and Shenzhen Stock Exchange. As of March 25, 2024, State-owned Assets Supervision and Administration Commission of the State Council have approved the transaction.
State Development Seed Technology Group Co., Ltd. completed the acquisition of 20% stake in Hefei Fengle Seed Co.,Ltd (SZSE:000713) from Hefei Construction Investment and Holding Co.,Ltd. on April 26, 2024.
Hefei Fengle Seed Co Ltd is a China-based company principally engaged in the production and sales of seeds, agrochemical products and spices. The Company is also engaged in the research and development, cultivation, storage, transportation, grain acquisition and corn silage production of crop seeds and seedlings. The Company's main products include hybrid rice seeds, hybrid corn seeds, conventional rice seeds, wheat seeds, dry land herbicides, pesticides and natural menthol. The Company mainly distributes its products in domestic and overseas markets.
State Development Seed Technology Group Co., Ltd. completed the acquisition of 20% stake in Hefei Fengle Seed Co.,Ltd from Hefei Construction Investment and Holding Co.,Ltd.