Xiamen ITG Holding Group Co.,Ltd agreed to acquire remaining 81% stake in Xiamen International Trade Finance Center Development Co., Ltd. from Xiamen ITG Group Corp.,Ltd for CNY 1.2 billion.
December 25, 2024
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Xiamen ITG Holding Group Co.,Ltd agreed to acquire remaining 81% stake in Xiamen International Trade Finance Center Development Co., Ltd. from Xiamen ITG Group Corp.,Ltd (SHSE:600755) for CNY 1.2 billion on December 25, 2024. A cash consideration of CNY 1.2 billion will be paid by Xiamen ITG Holding Group Co.,Ltd. As part of consideration, CNY 1.2 billion is paid towards common equity of Xiamen International Trade Finance Center Development Co., Ltd. Upon completion, Xiamen ITG Holding Group Co.,Ltd will own 100% stake in Xiamen International Trade Finance Center Development Co., Ltd.
As of September 30, 2024, Xiamen International Trade Finance Center Development Co., Ltd. reported total assets of CNY 1.08 billion and total common equity of CNY 933.23 million.
The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board.
Xiamen ITG Group Corp Ltd is a China-based company mainly engaged in supply chain management business. The Company mainly conducts its businesses through three segments. The Supply Chain Management Business segment is mainly engaged in bulk trading, logistics services and other businesses. The Company's main trading commodities include steel, coal, oil products, cotton, cotton yarn, asphalt, caustic soda, molybdenum metal, among others. The Health Technology Business segment is mainly engaged in health technology business. The Other Business segment is mainly engaged in real estate development and management, as well as financial services business. The Company mainly conducts its businesses in domestic and overseas markets.
Xiamen ITG Holding Group Co.,Ltd agreed to acquire remaining 81% stake in Xiamen International Trade Finance Center Development Co., Ltd. from Xiamen ITG Group Corp.,Ltd for CNY 1.2 billion.