Sichuan Jinding Industrial&Financial Holding Co.,Ltd agreed to acquire the remaining 20% stake in Deyang Economic and Technological Development Zone Jinkun Technological Microfinance Co., Ltd., from Sichuan Guangan AAAPublic Co.,Ltd for approximately CNY 140 million.
February 08, 2021
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Sichuan Jinding Industrial&Financial Holding Co.,Ltd agreed to acquire the remaining 20% stake in Deyang Economic and Technological Development Zone Jinkun Technological Microfinance Co., Ltd., from Sichuan Guangan AAAPublic Co.,Ltd (SHSE:600979) for approximately CNY 140 million on February 7, 2021. Pursuant to the terms of the transaction, the total consideration includes share transfer of CNY 102.14 million, cash dividends of CNY 6.4 million and cash compensation of CNY 28.7 million. The cash dividends of CNY 6.4 million have been paid. The cash compensation of CNY 28.7 million will be paid for capital loss or difference in annualized raincome. The share transfer price of CNY 102.14 million will be paid within 10 working days after the agreement signing and Sichuan Jinding Industrial&Financial Holding Co., Ltd.’s shareholders approve the transaction. Deyang Economic and Technological Development Zone Jinkun Technological Microfinance Co., Ltd. had total assets of CNY 670.25 million and net assets of CNY 505.33 million as at January 31, 2021. The transaction has been approved in the 16th meeting of Sichuan Guangan AAAPublic Co.,Ltd’s 6th Directorate held on February 7, 2021, and does not need the Shareholders’ Approval.
SICHUAN GUANGAN AAA PUBLIC CO., LTD. is a China-based company, principally engaged in the generation and distribution of electricity, natural gas and running water. The Company operates its businesses through three segments, including Water segment, Electricity segment and Gas segment. The Company is also engaged in the provision of installation services. The Company conducts its businesses mainly in Sichuan, Yunnan and Xinjiang provinces of China.
Sichuan Jinding Industrial&Financial Holding Co.,Ltd agreed to acquire the remaining 20% stake in Deyang Economic and Technological Development Zone Jinkun Technological Microfinance Co., Ltd., from Sichuan Guangan AAAPublic Co.,Ltd for approximately CNY 140 million.