Yangzijiang Shipbuilding (Holdings) Ltd. (SGX:BS6) entered into a sale and purchase agreement to acquire remaining 20% stake in Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. from Sanfu Shipbuilding Holdings Pte. Ltd. for CNY 650 million on July 21, 2021. As per terms, the consideration shall be fully satisfied by the transfer of 100 million treasury shares in the share capital of Yangzijiang Shipbuilding (Holdings) Ltd. The transfer price for each Consideration Share of CNY 6.5, equivalent to approximately SGD 1.37 represents a 0.63% premium to the volume-weighted average share price of SGD 1.3614 on July 21, 2021. On August 2, 2021, Yangzijiang Shipbuilding (Holdings) Ltd. has transferred 100,000,000 treasury shares as the consideration shares to Sanfu Shipbuilding Holdings Pte. Ltd. for the acquisition of 20% equity interest in Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. Acquisition is expected to be earnings accretive for the Group and is part of the Group’s efforts to enhance long-term shareholder value. As of August 2, 2021, the completion of the Proposed Transaction would take place upon the effective transfer of 20% of the issued share capital of the Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. from Sanfu Shipbuilding Holdings Pte. Ltd. to Yangzijiang Shipbuilding (Holdings) Ltd.