Shaanxi International Trust Co., Ltd. completed the acquisition of 5.9% stake in Zhejiang Wanliyang Co., Ltd. from Hong Kong Libang Industrial Co., Ltd.
July 15, 2021
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Shaanxi International Trust Co., Ltd. (SZSE:000563) entered into a share transfer agreement to acquire a 5.9% stake in Zhejiang Wanliyang Co., Ltd. (SZSE:002434) from Hong Kong Libang Industrial Co., Ltd. for approximately CNY 640 million on May 28, 2021. Under the transaction, Shaanxi will acquire 79 million shares at a price of CNY 8.1 per share. Within 5 days from receiving the Shenzhen Stock Exchange issuance of the compliance review confirmation, Shaanxi International Trust Co., Ltd. will pay CNY 19.197 million and within 12 months after the completion of the transfer, Shaanxi International Trust Co., Ltd. will pay CNY 620.703 million. Post transaction, Hong Kong Libang Industrial will hold 117.165 million shares of Zhejiang Wanliyang Co., Ltd. representing 8.74% stake.
Shaanxi International Trust Co., Ltd. (SZSE:000563) completed the acquisition of 5.9% stake in Zhejiang Wanliyang Co., Ltd. (SZSE:002434) from Hong Kong Libang Industrial Co., Ltd. on July 16, 2021.
Zhejiang Wanliyang Co., Ltd., formerly ZHEJIANG WANLIYANG TRANSMISSION COMPANY LTD., is a China-based company, principally engaged in the research and development, manufacture and distribution of automotive parts, and financial leasing business. The Company's automotive parts include automotive interior parts, and transmission gearboxes for passenger cars, light trucks, medium-loaded trucks, heavy trucks and agricultural machineries. The Company distributes its products within domestic market and to overseas markets.
Shaanxi International Trust Co., Ltd. completed the acquisition of 5.9% stake in Zhejiang Wanliyang Co., Ltd. from Hong Kong Libang Industrial Co., Ltd.
ZHEJIANG WANLIYANG CO., LTD. 
