Solareast Holdings Co., Ltd. agreed to acquire the remaining 45% stake in Solareast Arcon Sunmark Large Solar System Engineering Technology Co., Ltd. from Arcon-Sunmark A/S for CNY 20.3 million.
April 02, 2020
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Solareast Holdings Co., Ltd. (SHSE:603366) agreed to acquire the remaining 45% stake in Solareast Arcon Sunmark Large Solar System Engineering Technology Co., Ltd. from Arcon-Sunmark A/S for CNY 20.3 million on April 2, 2020. As per the terms, payment will be done in one single installment within 10 days since the date of issuance of the new business license for Solareast Arcon Sunmark Large Solar System Engineering Technology Co., Ltd. The transaction has been approved by the 4th meeting of the 4th directorate of Solareast Holdings on April 2, 2020 and does not require approval from its shareholders.
Solareast Holdings Co., Ltd., formerly Jiangsu Sunrain Solar Energy Co., Ltd, is a China-based company, principally engaged in the research and development, manufacture and sales of solar stand-alone water heaters. The Company is also engaged in the research and development, manufacture and sales of solar hot water engineering systems, air energy water heaters and water purifiers. The Company distributes its products within domestic market and to overseas markets.
Solareast Holdings Co., Ltd. agreed to acquire the remaining 45% stake in Solareast Arcon Sunmark Large Solar System Engineering Technology Co., Ltd. from Arcon-Sunmark A/S for CNY 20.3 million.
SOLAREAST HOLDINGS CO., LTD. 
