Tangrenshen Group Co., Ltd completed the acquisition of remaining 49% stake in Shenzhen Premierinve Nutrition Feed Co., Ltd. from Changxing Qizhi Yinglian Investment Management Partnership Enterprise (Limited Partnership, Changxing Hexie Legeng Investment Management Partnership Enterprise (Limited Partnership), Li Zhi, Li Zeyan, and Zhu Wanyi for approximately CNY 270 million.
January 21, 2019
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Tangrenshen Group Co., Ltd (SZSE:002567) agreed to acquire remaining 49% stake in Shenzhen Premierinve Nutrition Feed Co., Ltd. from Changxing Qizhi Yinglian Investment Management Partnership Enterprise (Limited Partnership, Changxing Hexie Legeng Investment Management Partnership Enterprise (Limited Partnership), Li Zhi, Li Zeyan, and Zhu Wanyi on December 27, 2018. Under the terms, the transfer price will be 10.74 multiplied by 49% multiplied by Shenzhen Premierinve's 2018 net profit attributable to all shareholders after deducting non-recurring gains and losses plus government subsidy income from research projects that are closely related to Shenzhen Premierinve's normal business and compliant with national policies. After the acquisition, Tangrenshen Group will hold 100% of Shenzhen Premierinve. Shenzhen Premierinve reported total assets of CNY 337.14 million, total liabilities of CNY 190.18 million and net assets of CNY 146.96 million as of December 31, 2017. The transaction was approved by Board of Tangrenshen Group.
Tangrenshen Group Co., Ltd (SZSE:002567) completed the acquisition of remaining 49% stake in Shenzhen Premierinve Nutrition Feed Co., Ltd. from Changxing Qizhi Yinglian Investment Management Partnership Enterprise (Limited Partnership, Changxing Hexie Legeng Investment Management Partnership Enterprise (Limited Partnership), Li Zhi, Li Zeyan, and Zhu Wanyi for approximately CNY 270 million on January 22, 2019. The legal representative was changed to Tan Yuede.
TANGRENSHEN GROUP CO., LTD is a China-based company principally engaged in feed, meat, breeding, boar and acquisition investment businesses. The Company provides feed products for pigs, poultry and fish under the brand of Luotuo. The Company breeds and sells pigs under the brand of Meishen. The Company is also involved in the research and development, processing and sale of meat products under the brand of Tangrenshen. The Company operates its businesses mainly in domestic market.
Tangrenshen Group Co., Ltd completed the acquisition of remaining 49% stake in Shenzhen Premierinve Nutrition Feed Co., Ltd. from Changxing Qizhi Yinglian Investment Management Partnership Enterprise (Limited Partnership, Changxing Hexie Legeng Investment Management Partnership Enterprise (Limited Partnership), Li Zhi, Li Zeyan, and Zhu Wanyi for approximately CNY 270 million.