Xiamen Unigroup Xue Co., Ltd. cancelled the acquisition of Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps from a group of seller.
February 17, 2019
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Xiamen Unigroup Xue Co., Ltd. (SZSE:000526) agreed to acquire Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps from a group of seller for CNY 23.6 billion on May 28, 2018. The consideration will be payable in cash and stock. As per the terms of consideration Xiamen Unigroup Xue Co., Ltd. will pay CNY 75 million in cash and will issue 939.1 million shares. As of May 2018, the transaction has been approved by partners of Weifang Juxin Jinmeng Investment Management Partnership Enterprise, Huarong Zhicheng No. 7 (Shenzhen) Investment Partnership Enterprise, Huarong Zhicheng No. 7 (Shenzhen) Investment Partnership Enterprise, Zhewu Tunlan (Hangzhou) Venture Capital Partnership Enterprise, Ningbo Meishan Bonded Port Area Shenhuateng No. 13 Equity Investment Center (Limited Partnership), Zhuhai Junrui Equity Investment Partnership Enterprise (Limited Partnership), Wuhu Runze Wanwu Investment Management Partnership Enterprise (Limited Partnership), and Hangzhou Xianglan Investment Partnership Enterprise (Limited Partnership and has been approved by shareholders of Shihezi Jinlong Energy Industrial Chain Co., Ltd., Shihezi Jinhui Energy Investment Co., Ltd., and Dalian Wanlin Imp. & Exp. Co., Ltd. The transaction is subject to approval from The Ministry of Education's Completion of the Filing of the Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps's assessment report; Second Approval of Xiamen Unigroup Xue's Directorate; The Ministry of Education and Ministry of Finance's Approval of the transaction; The Ministry of Commerce's Approval of the Concentration of Business Operators; CSRC's Approval; approval from shareholder of Xiamen Unigroup Xue. On September 14, 2018, at 33rd Meeting of the 8th Directorate, the transaction has been approved by board of Xiamen Unigroup Xue.
Zhang Tao, Han Feichong of Huatai United Securities Co., Ltd. acted as financial advisor while Li Jieli, Zhou Zhenguo of King & Capital Law Firm acted as legal advisor and Xuan Fei, Sun Dongmei of Beijing Xinghua Certified Public Accountants acted as accountant for Xiamen Unigroup Xue Co., Ltd. and Zhou Zhe, Diao Liping of PricewaterhouseCoopers Zhong Tian LLP acted as accountant for Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps in the transaction.
Xiamen Unigroup Xue Co., Ltd. (SZSE:000526) cancelled the acquisition of Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps from a group of seller on February 18, 2019. The termination was approved by the 17th session of the 8th directorate meeting of Xiamen Unigroup Xue Co., Ltd.
Xueda Xiamen Education Technology Group Co Ltd, formerly Xiamen Unigroup Xue Co Ltd, is a China-based company mainly engaged in education services. The Company provides personalized education counseling for Chinese primary and middle school students. The Company focuses on the (kindergarten to 12th grade) K12 education and training business, mainly includes one-to-one tutoring, personalized group tutoring, full-time cultural tutoring, online school. The Company's courses also include training and counseling courses for art examination and culture courses, training and counseling courses related to the new college entrance examination, as well as expanding training and counseling products including international education, full-time primary and secondary school education and training services, and quality development. The Company is also engaged in house leasing, property management, equipment leasing business and technical services.
Xiamen Unigroup Xue Co., Ltd. cancelled the acquisition of Tianshan Aluminum Co.,Ltd of the 8th Division of Xinjiang Production and Construction Corps from a group of seller.