Monalisa Group CO.,Ltd signed a share transfer agreement to acquire the remaining 13.49% stake in Guangxi Monalisa New Material Co., Ltd from Country Garden Venture Capital for CNY 250 million.
April 15, 2022
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Monalisa Group CO.,Ltd (SZSE:002918) signed a share transfer agreement to acquire the remaining 13.49% stake in Guangxi Monalisa New Material Co., Ltd from Country Garden Venture Capital for CNY 250 million on April 15, 2022. The transfer price of this transaction is paid in a lump sum. On the condition that the seller fully fulfills its commitments, guarantees and other conditions as stated in this agreement, the buyer shall pay the full amount to the bank account designated by the seller before April 25, 2022. After, the company will own 100% stake in the target. As of March 31, 2022, Total assets of Target were CNY 2,386.83 million and Net Assets were CNY 1,268.57 million. The deal was approved by the board of Monalisa Group CO.,Ltd (SZSE:002918).
Monalisa Group Co., Ltd. is a China-based company principally involved in the research, development, manufacture and sales of high-quality building ceramic products. The Company operates through two main segments. The Main Business segment is primarily involved in the production and sales of building ceramic products. The Companyâs main products include porcelain tiles, ceramic plates and thin bricks. The Other Business segment is mainly engaged in the lease of houses and sales of scraps.
Monalisa Group CO.,Ltd signed a share transfer agreement to acquire the remaining 13.49% stake in Guangxi Monalisa New Material Co., Ltd from Country Garden Venture Capital for CNY 250 million.