China ZhenHua Oil Co.,Ltd. agreed to acquire 15.37% stake in North Huajin Chemical Industries Co.,Ltd. (SZSE:000059) from North Huajin Chemical Industries Group Corporation for CNY 1.5 billion on March 22, 2016. Under the terms of the deal, 245.9 million shares will be acquired for CNY 6.1 per share. As of May 26, 2016, the transaction was approved by North Huajin Chemical Industries Group Corporation. China ZhenHua Oil Co.,Ltd. completed the acquisition of 15.37% stake in North Huajin Chemical Industries Co.,Ltd. (SZSE:000059) from North Huajin Chemical Industries Group Corporation on June 14, 2016.