Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy Co., Ltd. for CNY 11.3 million.
December 28, 2020
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Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy (Suzhou) Co., Ltd. (SZSE:002531) for CNY 11.3 million on December 29, 2020. Taicang Tianda Investment Management Co., Ltd. uses its own funds to pay the equity transfer price to the transferee company by wire transfer, and the one-time payment will be made within 60 working days after the agreement is signed and the corresponding industrial and commercial changes are completed. Shenzhen Titan Smart Energy Technology Co., Ltd. reported total assets of CNY 11.3 million and total common equity of CNY 9.9 million. The transaction has been reviewed and approved at the eleventh extraordinary meeting of the company's fourth Board of Directors in 2020. The transaction does not need to be submitted to the general meeting of shareholders for deliberation, and does not require the approval of relevant government departments.
Titan Wind Energy (Suzhou) Co., Ltd. is a China-based company principally engaged in the production and distribution of wind towers and wind tower parts and components. The Company is also engaged in the development, investment, construction and operation of wind power projects, as well as the provision of investment, financing and financial services. The Company distributes its products in domestic market and to overseas markets.
Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy Co., Ltd. for CNY 11.3 million.