Shandong Shengli Co., Ltd. cancelled the acquisition to acquire 62.7% stake in Zibo Lvchuan Gas Co., Ltd. from Wang Ling, Gao Yong, Gao Bo, Wang Lei and Cao Xiaoning.
November 26, 2017
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Shandong Shengli Co., Ltd. (SZSE:000407) agreed to acquire 62.7% stake in Zibo Lvchuan Gas Co., Ltd. from Wang Ling, Gao Yong, Gao Bo, Wang Lei and Cao Xiaoning for approximately CNY 130 million on November 27, 2016. Under the terms of the transaction Wang Ling will sell its 14.89% stake, Gao Yong will sell its 32.19% stake, Gao Bo will sell its 14.73% stake, Wang Lei will sell its 0.22% stake and Cao Xiaoning will sell its 0.67% stake in Zibo Lvchuan Gas Co., Ltd. Post transaction Shandong Shengli Co., Ltd. will hold 62.7% stake in Zibo Lvchuan Gas Co., Ltd. For the year ended December 31, 2015 Zibo Lvchuan Gas Co., Ltd. reported total revenues of CNY 170.34 million, total assets of CNY 145.32 million, operating profit of CNY 16.05, net income of CNY 11.75 and net assets of CNY 85.16 million. As of November 27, 2016 Board of Shandong Shengli Co., Ltd. approved the transaction.
Shandong Shengli Co., Ltd. (SZSE:000407) cancelled the acquisition to acquire 62.7% stake in Zibo Lvchuan Gas Co., Ltd. from Wang Ling, Gao Yong, Gao Bo, Wang Lei and Cao Xiaoning on November 27, 2017.
SHANDONG SHENGLI CO., LTD. is a China-based company principally engaged in the sales of natural gas. The Company mainly operates through four business segments. The Natural Gas segment is engaged in the sales of natural gas. The Natural Gas Pipeline Manufacturing segment is engaged in the manufacture and sales of plastic pipelines. The Agrochemical segment is engaged in the production and sales of pesticides and fertilizers. The Trading and Others segment is engaged in the trading of refined oil, the importing of polyethylene (PE) raw materials and red wine, as well as the investment and other businesses. The Company principally operates its businesses in domestic market.
Shandong Shengli Co., Ltd. cancelled the acquisition to acquire 62.7% stake in Zibo Lvchuan Gas Co., Ltd. from Wang Ling, Gao Yong, Gao Bo, Wang Lei and Cao Xiaoning.
SHANDONG SHENGLI CO., LTD. 