Hunan New Wellful Co.,Ltd. completed the acquisition of Hunan Tianqin Animal Husbandry Development Co., Ltd.
December 29, 2022
Share
Hunan New Wellful Co.,Ltd. (SHSE:600975) agreed to acquire Hunan Tianqin Animal Husbandry Development Co., Ltd. on September 1, 2022. In related transaction, Hunan New Wellful will acquire stakes in Hunan Tianxin Breeding Share Co., Ltd., Yuanjiang Tianxin Seed Industry Co., Ltd., Hengdong Tianxin Seed Industry Co., Ltd., Jingzhou Xiangmu Seed Industry Co., Ltd., Linxiang Tianxin Seed Industry Co., Ltd., Hunan Tianhan Animal Husbandry Development Co., Ltd., Chenzhou Xiasitian Agricultural Technology Co., Ltd., Xinhua County Jiuyang Agricultural Development Co., Ltd., Hengdong Xinbang Animal Husbandry Development Co., Ltd., Hunan Tianhan Animal Husbandry Development Co., Ltd. and Longshan Tianhan Animal Husbandry Development Co., Ltd. for combine consideration of CNY 2.21 billion out of that CNY 1.96 billion will be paid by share issuance and CNY 247.898 million will be paid in cash. The board of Hunan New Wellful approve the deal on 33rd session of 5th directorate held on September 1, 2022. As on September 21, 2022, The shareholders of Hunan New Wellful has approved acquisition of assets through the issuance of shares and cash and raising of supporting on 1st Extraordinary Shareholders Meeting held on September 21, 2022. As of December 10, 2022, The Merger, Acquisition and Reorganization Examination Committee of Hunan New Wellful has conditionally approved the deal on December 9, 2022. China Merchants Securities Co., Ltd. acted as financial advisor, Hunan Qiyuan Law Firm acted as legal advisor and Moore Stephens Da Hua acted as accountant to Hunan New Wellful Co.,Ltd. (SHSE:600975) in the deal.
Hunan New Wellful Co.,Ltd. (SHSE:600975) completed the acquisition of Hunan Tianqin Animal Husbandry Development Co., Ltd. on December 30, 2022.
Hunan New Wellful Co Ltd is a China-based company principally engaged in the breeding and distribution of pigs and feed processing. The Company's main products include pigs, meat and feed. The Company is also engaged in raw material trading, fresh meat distribution, frozen meat business and slaughter refrigeration. The Company operates its businesses primarily in Mainland China, Hong Kong and Macau.