Xinjiang Tianrun Dairy Co., Ltd. completed the acquisition of Alaer Xinnong Dairy Co., Ltd. from Xinjiang Talimu Agriculture Development Co., Ltd. and Aral City Shahe Town Jianrong State-owned Assets Investment and Operations Co., Ltd.
Xinjiang Tianrun Dairy Co., Ltd. (SHSE:600419) signed a Share Purchase Agreement to acquire Alaer Xinnong Dairy Co., Ltd. from Xinjiang Talimu Agriculture Development Co., Ltd. (SHSE:600359) and Aral City Shahe Town Jianrong State-owned Assets Investment and Operations Co., Ltd. for approximately CNY 330 million on April 20, 2023. Under the terms, within 5 working days from all parties' shareholders meetings' approval, Xinjiang Tianrun will pay 50% of the consideration, 40% within 10 working days after the delivery date, and will pay 10% within 10 working days after the completion of change registration procedure for the transfer of the trademark, complete and obtain the real estate certificate of the house, and completed the processing of the real estate certificate for land no. 0105XN1001 located between the second and third breeding farms of Wutuan Dairy Co., Ltd. Xinjiang Talimu Agriculture will sell 97.4359% stake for CNY 317.61 million and Aral City Shahe Town Jianrong will sell 2.5641% stake for CNY 8.36 million. Alaer Xinnong reported Total Assets of CNY 992.69 million, Net Assets of CNY 215.41 million, Operating Profit of CNY 30.58 million, Net Profit of CNY 27.04 million and Revenue of CNY 305.99 million. As of May 23, 2023, shareholders of Xinjiang Tianrun Dairy Co., Ltd approved the transaction.
The transaction is approved by the boards of Xinjiang Talimu Agriculture and Xinjiang Tianrun on April 20, 2023, approved by Alaer Xinnong Shareholders on April 20, 2023, filling and agreement on the assessment report by Xinjiang Production and Construction Corps State-owned Assets Supervision and Administration Commission on April 7, 2023 and April 13, 2023, respectively and remains subject to shareholders approval of Xinjiang Tianrun and Xinjiang Talimu Agriculture and Other Necessary Approvals. Caitong Securities Co.,Ltd. (SHSE:601108) acted as Independent Financial Advisor, King & Wood Mallesons acted as legal advisor Wuyige Certified Public Accountants acted as accountant.
Xinjiang Tianrun Dairy Co., Ltd. (SHSE:600419) completed the acquisition of Alaer Xinnong Dairy Co., Ltd. from Xinjiang Talimu Agriculture Development Co., Ltd. (SHSE:600359) and Aral City Shahe Town Jianrong State-owned Assets Investment and Operations Co., Ltd. on May 24, 2023.
Xinjiang Tianrun Dairy Co Ltd is a China-based company principally engaged in the production, wholesale, processing and sales of dairy products. The Company is also engaged in animal husbandry business. The Company's main products include yogurt series, Ultra Heat Treated (UHT) and other milk series, milk beverage series, pasteurized milk series, consumable biological assets, produce fresh milk and others. The Company mainly distributes its products in Xinjiang province, China.
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Xinjiang Tianrun Dairy Co., Ltd. completed the acquisition of Alaer Xinnong Dairy Co., Ltd. from Xinjiang Talimu Agriculture Development Co., Ltd. and Aral City Shahe Town Jianrong State-owned Assets Investment and Operations Co., Ltd.
