Huatu Hongyang Investment Co., Ltd. completed the acquisition of an additional 20.7% minority stake in Huatu Cendes Co., Ltd..
October 21, 2021
Share
Huatu Hongyang Investment Co., Ltd. made an offer to acquire an additional 20.7% minority stake in Huatu Cendes Co., Ltd. (SZSE:300492) for CNY 1.4 billion on August 14, 2021. As per the offer, Huatu Hongyang Investment Co., Ltd. will acquire 29.22 million shares at CNY 48.32 per share in cash. Beijing Huatu Hongyang Education Culture Development Co., Ltd., holding shareholder of Huatu Hongyang Investment Co., Ltd. has approved the transaction. On September 6, 2021, the shareholders' meeting of Huatu Hongyang Investment Co., Ltd. made a shareholder decision unanimously agreeing to the tender offer. Tender offer period is 30 days. The offer will expire on October 22, 2021. Morgan Stanley Securities (China) Co., Ltd. and Jingtian & Gongcheng acted as financial and legal advisors to Huatu Hongyang Investment Co., Ltd. respectively. As on October 18, 2021,four shareholders accepted the offer.
Huatu Hongyang Investment Co., Ltd. completed the acquisition of an additional 20.7% minority stake in Huatu Cendes Co., Ltd. (SZSE:300492) on October 22, 2021. As of October 22, 2021, Offeror received an acceptance for all the shares under the offer. Pre transaction, Offeror holds 71,648,100 shares, accounting for 50.8% stake in Huatu Cendes Co., Ltd.
Huatu Cendes CO., LTD., formerly Cendes Co., Ltd., is a provider of construction engineering design and related consulting services. Specific services offered by the Company include pre-project consulting, conceptual design, schematic design, preliminary design, construction design, construction coordination and other services, covering all types of housing, urban complexes, public buildings, planning, landscape and interior design business, among others. The Company mainly operates its businesses in the southwest of China.