Jiuquan Hanhan Economic Investment Group Co., Ltd entered into a framework agreement to acquire five subsidiaries of Gansu Dunhuang Seed Group Co.,Ltd. for approximately CNY 170 million.
September 31, 2020
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Jiuquan Hanhan Economic Investment Group Co., Ltd entered into a framework agreement to acquire Five subsidiaries of Gansu Dunhuang Seed Group Co.,Ltd. (SHSE:600354) for approximately CNY 170 million on September 1, 2020. As per terms of transaction, Jiuquan Hanhan Economic Investment Group Co., Ltd will acquire Gansu Dunhuang Seed Industry Vegetable Seedling Co., Ltd., Jiuquan Dunhuang Seed Agricultural Technology Co., Ltd., Gansu Dunzhong Longfeng Ecological Agriculture Development Co., Ltd., Gansu Dunhuang Seed Oil Co., Ltd. and Gansu Dunhuang Seed Packaging Co., Ltd. from Gansu Dunhuang Seed Group Co.,Ltd. In a related transaction, Jiuquan Hanhan Economic Investment Group Co., Ltd entered into an framework agreement to acquire 51% stake in Dunhuang Seed Agricultural Technology (Shanghai) Co., Ltd. from Gansu Dunhuang Seed Group Co.,Ltd. for CNY 26 million on September 1, 2020. Transaction is subject to shareholder approval of Gansu Dunhuang Seed Group Co.,Ltd. On September 11, 2020, Gansu Dunhuang Seed Group received the approval from Jiuquan State-owned Assets Supervision and Administration Commission of Jiuquan State-owned Assets Supervision and Administration Commission. Gansu Dunhuang Seed Group’s shareholders meeting will be held on September 16, 2020 to review and approve the transaction. On September 16, 2020, the 2nd Extraordinary Shareholders Meeting of 2020 approved the transaction.
Gansu Dunhuang Seed Group Co.,Ltd., formerly Gansu Dunhuang Seed Co., Ltd., is a China-based company principally engaged in seed, cotton and food processing businesses. Through its seed business, the Company primarily provides corn seeds, wheat seeds, rice seeds, as well as melon and vegetable seeds, and others. Through its food processing business, the Company primarily provides cotton protein oil and fat, dehydrated vegetables, tomato powder, tomato sauce and others.
Jiuquan Hanhan Economic Investment Group Co., Ltd entered into a framework agreement to acquire five subsidiaries of Gansu Dunhuang Seed Group Co.,Ltd. for approximately CNY 170 million.
GANSU DUNHUANG SEED GROUP CO.,LTD. 