ShanDongDenghai Seeds Co.,LTD cancelled the acquisition of an additional 5% stake in Heilongjiang Denghai Jiuke Seeds Co., Ltd. from Li Xiaoxia, Li Hongling, and Liu Jingguo.
December 28, 2017
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ShanDongDenghai Seeds Co.,LTD (SZSE:002041) agreed to acquire an additional 5% stake in Heilongjiang Denghai Jiuke Seeds Co., Ltd. from Li Xiaoxia, Li Hongling, and Liu Jingguo for nil consideration on December 29, 2016. Under the terms, the buyer will acquire 3%, 1%, and 1% stakes from Li Xiaoxia, Li Hongling, and Liu Jingguo respectively. After completion of the transaction, ShanDongDenghai Seeds Co.,LTD will hold 56% stake in Heilongjiang Denghai Jiuke Seeds Co., Ltd. In related transactions, ShanDongDenghai Seeds Co.,LTD agreed to acquire additional 5% stake in each of the four companies. The transaction was approved by the Board of ShanDongDenghai Seeds Co.,LTD in the 7th extraordinary meeting of the 6th directorate and does not need the shareholders' approval.
ShanDongDenghai Seeds Co.,LTD (SZSE:002041) cancelled the acquisition of an additional 5% stake in Heilongjiang Denghai Jiuke Seeds Co., Ltd. from Li Xiaoxia, Li Hongling, and Liu Jingguo on December 29, 2017.
Shandong Denghai Seeds Co., Ltd specializes in producing and marketing corn, vegetables and wheat seeds. The group's products are sold under the Denghai and Xiyu brands. Net sales break down by family of products as follows:
- corn (88.8%);
- wheat (7.1%);
- vegetables (2%);
- flowers (0.4%);
- other (1.7%).
All sales are earned in China.
ShanDongDenghai Seeds Co.,LTD cancelled the acquisition of an additional 5% stake in Heilongjiang Denghai Jiuke Seeds Co., Ltd. from Li Xiaoxia, Li Hongling, and Liu Jingguo.
SHANDONGDENGHAI SEEDS CO.,LTD 
