Kuaijishan Shaoxing Wine Co., Ltd. completed the acquisition of Wuzhanmao Wine Co., Ltd. from a group of sellers.
September 13, 2016
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Kuaijishan Shaoxing Wine Co., Ltd. (SHSE:601579) entered into an agreement to acquire Wuzhanmao Wine Co., Ltd. from a group of sellers for CNY 400 million on June 11, 2015. The group of sellers includes Wu Liehu, Ying Qiong, Lou Fengming, Yang Yuejin, Xiang Qing, Luo Qingjie, Zhang Chuanwei, Zhu Fenfen, Chen Genfu, He Hongjiang, Zhu Bin, Lin Hai, Zhu Rongshun, Huang Xinrong, Yan Jianfeng, Zhu Meili, Fang Ming, Wu Yiguo, Wang Zhilin and Tang Xiaoniu. In a related transaction, Kuaijishan Shaoxing Wine Co., Ltd. entered into an agreement to acquire Shaoxing Tangsong Winery Co., Ltd. from Zhu Qingyao for CNY 81.6 million on June 11, 2015. Kuaijishan Shaoxing Wine Co., Ltd. will raise CNY 1.8 billion by issuing 130 million shares at the price of CNY 13.75 per share and use it for acquisition. As of April 30, 2015, Wuzhanmao Wine Co., Ltd. had total assets of CNY 159.13 million and owner’s equity of CNY 61.87 million. The Board of Directors of Kuaijishan Shaoxing Wine Co., Ltd. approved the transaction on June 12, 2015.
Kuaijishan Shaoxing Wine Co., Ltd. (SHSE:601579) completed the acquisition of Wuzhanmao Wine Co., Ltd. from a group of sellers on September 14, 2016.
Kuaijishan Shaoxing Rice Wine Co., Ltd., formerly Kuaijishan Shaoxing Wine Co., Ltd. is a China-based company principally engaged in the Chinese spirit business. The Company mainly operates its business through research and development (R&D), production and sale of Shaoxing yellow spirits. The Companyâs products portfolio consists of midrange and high-end bottled Shaoxing yellow spirits, ordinary bottled Shaoxing yellow spirits and bottled Shaoxing yellow spirits base liquors, among others. The Company provides its products under the brand name of Kuajishan. It distributes its products within domestic market and to overseas markets, including Japan, Singapore, Hong Kong, Macau and others.