Transfar Zhilian Co., Ltd. agreed to acquire an additional 4.58% stake in Transfar Logistics Group Co., Ltd. from ICBC Financial Asset Investment Co., Ltd. for CNY 1 billion.
September 28, 2020
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Transfar Zhilian Co., Ltd. (SZSE:002010) agreed to acquire an additional 4.58% stake in Transfar Logistics Group Co., Ltd. from ICBC Financial Asset Investment Co., Ltd. for CNY 1 billion on September 27, 2020. Post completion, Transfar Zhilian will own 94.12% stake in Transfar Logistics Group. Transfar Logistics Group had total assets of CNY 23.9 billion as of June 30, 2020. Transfar Logistics Group had revenue of CNY 15.1 billion, operating profit of CNY 1.3 billion and net profit of CNY 1 billion for the year ended December 31, 2019. On September 27, 2020, the 5th session of Transfar Zhilian's 7th Directorate approved the transaction.
Transfar Zhilian Co., Ltd., formerly Zhejiang Transfar Co., Ltd. is a China-based company principally engaged in the manufacture and distribution of special chemical products, as well as the provision of logistics information services and the development of related software. The Companyâs products mainly include textile dyeing auxiliaries, chemical oil agents for leather, fuel and butadiene rubber. The Company is also involved in the trading of fuel and tire as well as the provision warehousing, hotel rental, as well as transportation services. The Company mainly distributes its products within domestic markets, with eastern China as its major market.
Transfar Zhilian Co., Ltd. agreed to acquire an additional 4.58% stake in Transfar Logistics Group Co., Ltd. from ICBC Financial Asset Investment Co., Ltd. for CNY 1 billion.
TRANSFAR ZHILIAN CO., LTD. 
