Yunnan Yuntianhua Co., Ltd. cancelled the acquisition of Yunnan Tianning Mining Industry Co., Ltd. from Yuntianhua Group Co., Ltd.
September 11, 2018
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Yunnan Yuntianhua Co., Ltd. (SHSE:600096) signed an agreement to acquire 51% stake in Yunnan Tianning Mining Industry Co., Ltd. from Yuntianhua Group Co., Ltd. for approximately CNY 680 million on September 12, 2017. Prior to the transaction, Yuntianhua Group Co., Ltd. held 51% stake in Yunnan Tianning Mining Industry Co., Ltd. After the transaction, Yuntianhua Group Co., Ltd. will hold no stake and Yunnan Yuntianhua Co., Ltd. will hold 51% stake in Yunnan Tianning Mining Industry Co., Ltd. In a related transaction, Yunnan Yuntianhua Co., Ltd. will sell 46% stake in a tech firm and 100% stake in a new material firm for approximately CNY 700 million. Yunnan Tianning Mining Industry Co., Ltd. reported total assets of CNY 708.22 million, net assets of CNY 440.68 million, operating revenues of CNY 638.76 million and net profit of CNY 200.91 million in 2016. The transaction is subject to approval of shareholders' of Yunnan Yuntianhua Co., Ltd., Board of Directors of Yuntianhua Group Co., Ltd. and SASAC authorities. A meeting of shareholders’ of Yunnan Yuntianhua Co., Ltd. will be held on September 29, 2017 to approve the transaction. The Board of Directors of Yunnan Yuntianhua Co., Ltd. approved the transaction. As of September 29, 2017, the shareholders of Yunnan Yuntianhua Co., Ltd. approved the transaction.
Yunnan Yuntianhua Co., Ltd. (SHSE:600096) cancelled the acquisition of Yunnan Tianning Mining Industry Co., Ltd. from Yuntianhua Group Co., Ltd. on September 12, 2018.
YUNNANYUNTIANHUACO.,LTD is a China-based company principally engaged in manufacture and distribution of chemical fertilizers and chemical materials and products. The Company operates its businesses through Chemical Fertilizer segment, Phosphate Mining and Dressing segment, Engineering Material segment and Commerce Trading and Logistic segment. Chemical Fertilizer segment produces various chemical fertilizer products, including monoammonium phosphate, diammonium phosphate, urea and composite fertilizer, among others. Phosphate Mining and Dressing segment operates through the mining and dressing of phosphate, as well as the distribution of phosphate products. Engineering Material segment mainly provides polyformaldehyde and lithium battery separators. Commerce Trading and Logistic segment mainly involves in the trading and logistics services of chemical fertilizer, fertilizer raw materials and produce.
YUNNAN YUNTIANHUA CO., LTD. 
