Wuxi Zhijiu Enterprise Management Partnership (Limited Partnership) and Wuxi Guolian Industrial Investment Co., Ltd. completed the acquisition of 36.4% stake in V-Capital, LP from Jiangsu Huaxicun Co., Ltd..
September 06, 2020
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Wuxi Zhijiu Enterprise Management Partnership (Limited Partnership) and Wuxi Guolian Industrial Investment Co., Ltd. agreed to acquire 36.4% stake in V-Capital, LP from Jiangsu Huaxicun Co., Ltd. (SZSE:000936) for CNY 1.1 billion on July 10, 2020. Wuxi Guolian Industrial Investment Co., Ltd. will acquire 34.4% stake while Wuxi Zhijiu Enterprise Management Partnership (Limited Partnership) will acquire 2% stake in V-Capital, LP for CNY 58 million. After the transaction, Jiangsu Huaxicun Co., Ltd. will hold 44.8% stake in V-Capital, LP. For the year ending December 31, 2019, V-Capital, LP reported total assets of CNY 6.3 billion, owner's equity of CNY 3.16 billion, revenue of CNY 38.28 million and operating profit of CNY 372.88 million. The 30th meeting of the seventh directorate of Jiangsu Huaxicun Co., Ltd. reviewed and unanimously approved the "Proposal on the Transfer of Partial Equity and Related Party Transactions of the target company".
Wuxi Zhijiu Enterprise Management Partnership (Limited Partnership) and Wuxi Guolian Industrial Investment Co., Ltd. completed the acquisition of 36.4% stake in V-Capital, LP from Jiangsu Huaxicun Co., Ltd. (SZSE:000936) on September 7, 2020. Post transaction, now Jiangsu Huaxicun Co., Ltd. holds 44.8%, Wuxi Guolian Industrial Investment Co., Ltd. holds 34.43% and Wuxi Zhijiu Enterprise Management Partnership (Limited Partnership) holds 2% stake in V-Capital, LP.
JIANGSU HUAXICUN CO.,LTD. is a China-based company principally engaged in the research, development, production and sale of textile chemical fiber products. The Company operates through three business segments. Polyester Fiber segment mainly provides polyester staple fibers. Petrochemical Warehousing and Logistics segment mainly provides terminal loading and unloading, warehousing, barging transit and pipeline transportation services for liquid chemicals. Investment segment is mainly involved in merger and acquisition investment, venture capital, asset management and strategic investment. The Company operates its business in domestic market.