Inner Mongolia M-Grass Ecology And Environment Co., Ltd. signed an equity transfer agreement to acquire an additional 65.25% stake in Bayannaoer City Yichun Greening Management Co., Ltd. from Chang'an International Trust Co., Ltd. for approximately CNY 130 million.
December 30, 2020
Share
Inner Mongolia M-Grass Ecology And Environment (Group) Co., Ltd. (SZSE:300355) signed an equity transfer agreement to acquire an additional 65.25% stake in Bayannaoer City Yichun Greening Management Co., Ltd. from Chang'an International Trust Co., Ltd. for approximately CNY 130 million on December 31, 2020. After the completion of the equity transfer, Inner Mongolia Mongolian Grass Ecological Environment (Group) will own 66.67% stake in Bayannaoer Yichun Greening Management Co., Ltd. As at September 30, 2020, Bayannaoer City Yichun Greening Management had total assets of CNY 414.97 million and net assets of CNY 107.23 million. This acquisition does not constitute a major asset reorganization required by the "Management Measures for Major Asset Reorganizations of Listed Companies", and does not need to be submitted to the company’s Board of Directors and shareholders’ meeting for review.
M-Grass Ecology and Environment Group Co Ltd, formerly Inner Mongolia M-Grass Ecology And Environment Group Co Ltd, is a China-based company principally engaged in ecological restoration and seed technology development. The Company's main businesses include construction and operation of natural ecological environment, sales of grass seeds and native plants, photovoltaic power generation and construction of big data platforms. The Company's services can be used in various ecological environments such as mines, grasslands, urban green spaces, and deserts.
Inner Mongolia M-Grass Ecology And Environment Co., Ltd. signed an equity transfer agreement to acquire an additional 65.25% stake in Bayannaoer City Yichun Greening Management Co., Ltd. from Chang'an International Trust Co., Ltd. for approximately CNY 130 million.
M-GRASS ECOLOGY AND ENVIRONMENT (GROUP) CO., LTD. 
