Cao Deli, Yang Yingli, and Jiang Fuzhong completed the acquisition of 29% stake in Yorhe Fluid Intelligent Control Co., Ltd. from Taizhou Yongjian Holdings Limited.
April 22, 2021
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Cao Deli, Yang Yingli, and Jiang Fuzhong agreed to acquire 29% stake in Yorhe Fluid Intelligent Control Co., Ltd. (SZSE:002795) from Taizhou Yongjian Holdings Limited for approximately CNY 450 million on January 12, 2021. On March 17, 2021, Yongjian Holdings and Jiang Fuzhong signed the termination agreement. Under the terms of the transaction, 58 million shares will be acquired at CNY 7.713 per share. Cao Deli will acquire 34 million shares equivalent to 17% stake; Yang Yingli will acquire 13.98 million shares equivalent to 6.99% stake, Jiang Fuzhong will acquire 10.02 million shares equivalent to 5.01% stake. Within 12 days after the agreement signing, Cao Deli, Yang Yingli, and Jiang Fuzhong must each make a one-time payment. Yongjian Holdings will first transfers 13.98 million shares to Yang Yingli. After that the aforementioned share transfer registration is completed, Yongjian Holding will then transfer 20 million shares out of 34 million shares to Cao Deli. After completion of the aforementioned share transfer and registration, Yongjian Holding will transfer the remaining 14 million shares to Cao Deli.
Cao Deli, Yang Yingli, and Jiang Fuzhong completed the acquisition of 29% stake in Yorhe Fluid Intelligent Control Co., Ltd. (SZSE:002795) from Taizhou Yongjian Holdings Limited on April 23, 2021.
Yorhe Fluid Intelligent Control Co., Ltd is a China-based company engaged in the research and development, manufacture and sales of fluid control equipment and devices. Its products include various types of plumbing equipment, such as copper plumbing valves and fittings, which are widely used in water supply and drainage, heating and gas supply systems. The Company's specific products include ball valves for gas and water, ball valves with drain-off, bid-cocks, filter valves and check valves, boiler valves and brass fittings, angle valves and thermostatic mixing valves, among others. The Company principally sells its products to Europe and North America.
Cao Deli, Yang Yingli, and Jiang Fuzhong completed the acquisition of 29% stake in Yorhe Fluid Intelligent Control Co., Ltd. from Taizhou Yongjian Holdings Limited.