Sichuan Crun Co., Ltd made a bid to acquire Zigong Purun Trading Co., Ltd. from Sichuan Commercial Investment Co., Ltd. for approximately CNY 370 million.
August 25, 2020
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Sichuan Crun Co., Ltd (SZSE:002272) made a bid to acquire Zigong Purun Trading Co., Ltd. from Sichuan Commercial Investment Co., Ltd. on August 24, 2020. Sichuan Crun Co., Ltd entered into an agreement to acquire Zigong Purun Trading Co., Ltd. from Sichuan Commercial Investment Co., Ltd for approximately CNY 370 million on September 18, 2020. Under the terms, approximately CNY 110 million has already been paid, approximately CNY 110 million within 5 days from when the contract becomes effective and the remaining approximately CNY 260 million has to be paid before December 15, 2020. The transaction will be funded by Sichuan Crun Co., Ltd's own funds not exceeding CNY 377.2 million. Zigong Purun Trading Co., Ltd. reported total assets of CNY 450.2 million, net assets of CNY 60.5 million, net profit of CNY 0.65 million and revenue of CNY 23.7 million as of December 31, 2019. The transaction is approved by the Board of Sichuan Crun Co., Ltd.
Sichuan Crun Co., Ltd is a China-based company principally engaged in the research, development, production and sale of lubrication hydraulic equipment and related integrated systems, boiler components, as well as pressure vessels. The Company provides hydraulic equipment, lubricating systems, water cooling systems, hydraulic components, lubrication components, utility boilers, exhaust heat boilers, biomass boilers, blast furnace gas boilers, special boilers, utility boiler auxiliary engines and petrochemical vessels, among others, used in wind power, solar energy, building materials and cement, metallurgical mining, petrochemical engineering, engineering machinery, as well as light industry. The Company mainly operates its business in domestic markets.
Sichuan Crun Co., Ltd made a bid to acquire Zigong Purun Trading Co., Ltd. from Sichuan Commercial Investment Co., Ltd. for approximately CNY 370 million.