Transfar Group Co., Ltd. entered into an agreement to acquire 37.5% stake in Jiande Xinan Petty Loan Co., Ltd. from Zhejiang Xinan Chemical Industrial Group Co.,Ltd for CNY 111.3 million.
November 07, 2022
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Transfar Group Co., Ltd. entered into an agreement to acquire 37.5% stake in Jiande Xinan Petty Loan Co., Ltd. from Zhejiang Xinan Chemical Industrial Group Co.,Ltd (SHSE:600596) for CNY 111.3 million on November 7, 2022. Transfar Group will pay CNY 1.48 per share and will acquire 75 million shares of Jiande Xinan Petty Loan Co., Ltd. The share transfer payment will be paid in cash in three installments. Within 5 working days after the agreement comes into effect, the transferee will pay 10%; 5 working days from the date of obtaining the approval from the financial supervision and other relevant departments of Zhejiang Province, the transferee will pay 40%; Within 5 working days after the delivery date of the shares, the transferee shall pay 50%.The board of directors of Zhejiang Xinan Chemical Industrial Group approved the transaction. The transaction is subject to approval from the financial supervision and other relevant departments of Zhejiang Province. Jiande Xinan Petty Loan recorded total assets of CNY 433.4 million, Net assets of CNY 316.9 million, revenue of 35.2 million and net profit of CNY 20.6 million as of August 30, 2022.
Zhejiang XinAn Chemical Industrial Group Co Ltd is a China-based company mainly engaged in the manufacturing of chemical raw materials and chemical products. The Company operates its businesses through six segments. The Agrichemical Self-produced Products segment is principally engaged in the manufacture and sale of agrochemical self-produced products. The Agrichemical Trading Products segment is principally engaged in the manufacture and sale of agrochemical trading products. The Silicon-based Material Basic Products segment is principally engaged in the manufacture and sale of silicon-based material basic products. The Silicon-based Terminals and Specialty Silane Products segment is principally engaged in the manufacture and sale of silicon-based terminals and specialty silane products. The New Chemical Materials segment is principally engaged in the manufacture and sale of new chemical materials. The Company is also engaged in other segments.
Transfar Group Co., Ltd. entered into an agreement to acquire 37.5% stake in Jiande Xinan Petty Loan Co., Ltd. from Zhejiang Xinan Chemical Industrial Group Co.,Ltd for CNY 111.3 million.
ZHEJIANG XINAN CHEMICAL INDUSTRIAL GROUP CO.,LTD 
