TCC Recycle Energy Technology Company completed the acquisition of 71.9% stake in E-One Moli Energy Corp. from International CSRC Investment Holdings Co., Ltd. and others.
December 11, 2019
Share
TCC Recycle Energy Technology Company agreed to acquire 71.9% stake in E-One Moli Energy Corp. from International CSRC Investment Holdings Co., Ltd. (TSEC:2104) and others on August 13, 2019. The consideration comprises issuance of 1 convertible preference share of TCC Recycle Energy Technology Company for every one share of E-One Moli Energy Corp. International CSRC Investment Holdings Co., Ltd and Taiwan Cement Corp. (TSEC:1101), parent of TCC Recycle Energy Technology Company, will also do capital injection in E-One Moli Energy Corp. Taiwan Cement Corp. already holds 28.11% stake in E-One Moli Energy Corp. Hence post completion of this deal, E-One Moli Energy Corp. will operate as a wholly owned subsidiary of the TCC Group. The deal requires approval from shareholders of E-One Moli Energy Corp. The transaction was approved by board of TCC Recycle Energy Technology Company and E-One Moli Energy Corp. on August 13, 2019 and was further approved by the board of directors of TCC Recycle (in lieu of shareholders meeting) and the interim shareholders meeting of E-One Moli Energy on September 16, 2019. The transaction is expected to bring positive influence on TCC Energy's value per share and earnings per share.
TCC Recycle Energy Technology Company completed the acquisition of 71.9% stake in E-One Moli Energy Corp. from International CSRC Investment Holdings Co., Ltd. (TSEC:2104) and others for TWD 8.6 billion on December 12, 2019.
International CSRC Investment Holdings Co., Ltd., formerly CHINA SYNTHETIC RUBBER CORPORATION, is principally engaged in the manufacture and distribution of carbon black. The Company's carbon black is mainly applied in the manufacture of rubber products, such as tires, conveyor belts and other products. The Company is also engaged in the manufacture and trading of pharmaceuticals, the provision of biotechnological services, as well as the production and assembling of battery cells and battery packs. The Company distributes its products within domestic market and to overseas markets.
TCC Recycle Energy Technology Company completed the acquisition of 71.9% stake in E-One Moli Energy Corp. from International CSRC Investment Holdings Co., Ltd. and others.
INTERNATIONAL CSRC INVESTMENT HOLDINGS CO., LTD. 
