Hunan New Wellful Co.,Ltd. completed the acquisition of Hunan Tianxin Breeding Share Co., Ltd.
December 29, 2022
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Hunan New Wellful Co.,Ltd. (SHSE:600975) agreed to acquire Hunan Tianxin Breeding Share Co., Ltd on September 1, 2022. In related transactions, Hunan New Wellful Co.,Ltd. agreed to acquire Hunan Tianxin Breeding Share Co., Ltd. from group of sellers, 48.2% stake in Yuanjiang Tianxin Seed Industry Co., Ltd. from Hunan Modern Seed Investment Co., Ltd. and Hunan Tianyuan Agricultural Development Co., Ltd., 49% stake in Jingzhou Xiangmu Seed Industry Co., Ltd. and 46.70% stake in Liling Tianxin Seed Industry Co., Ltd. from Hunan Modern Seed Investment Co., Ltd., Hunan Tianhan Animal Husbandry Development from Tibet Chayi Agricultural Technology Co., Ltd. and Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership), Chenzhou Xiasitian Agricultural Technology Co., Ltd. from Chenzhou Xiangmu Agricultural Technology Partnership (Limited Partnership) and Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership), Xinhua County Jiuyang Agricultural Development Co., Ltd. from Cao Bentao and Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership), Hengdong Xinbang Animal Husbandry Development Co., Ltd. from Hunan Lndai Enterprise Management Partnership (Limited Partnership), Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership) and Xu Xiuying, Hunan Tianqin Animal Husbandry Development Co., Ltd. from Tibet Chayi Agricultural Technology Co., Ltd. and Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership) and Longshan Tianhan Animal Husbandry Development Co., Ltd. from Tibet Yijin Industrial Co., Ltd. and Hunan New Wellful Phase I Industrial Investment Fund Enterprise (Limited Partnership). The cash consideration will be funded from the proceeds of raised supporting funds from no more than 35 qualified specific investors through the non-public issuance of ordinary shares. Hunan New Wellful Co., Ltd Board of directors of Hunan New Wellful Co.,Ltd. approved the transaction. On September 19, 2022, Transaction has been approved by the State-owned Assets Supervision and Administration Commission of the PeopleÃs Government of Hunan Province. As on September 21, 2022, Hunan Tianxin Breeding's shareholders have approved the transaction. On December 9, 2022, he Merger, Acquisition and Reorganization Examination Committee of the Listed Company of CSRC approved the transaction. China Merchants Securities Co., Ltd. acted as a financial advisor, Moore Stephens Da Hua acted as accountant and Hunan Qiyuan Law Firm acted as legal advisor to Hunan New Wellful Co.,Ltd.
Hunan New Wellful Co.,Ltd. (SHSE:600975) completed the acquisition of Hunan Tianxin Breeding Share 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.