Shaanxi Gas Group Co.,Ltd completed the acquisition of a 5.53091% stake in Shaanxi Provincial Natural Gas Co.,Ltd.
December 16, 2021
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Shaanxi Gas Group Co.,Ltd sign a contract to acquire 5.53% stake in Shaanxi Provincial Natural Gas Co.Ltd (SZSE:002267) from Macao Huashan Investment International Economic Technology Cooperation &Trade Co., Ltd. for approximately CNY 400 million on April 14, 2021. Under the terms of consideration, Shaanxi Gas Group Co.,Ltd will acquire 51.5 million share from Macao Huashan Investment International Economic Technology Cooperation &Trade Co., Ltd. and will pay CNY 6.5 per share of Shaanxi Provincial Natural gas. 30% of the transfer price shall be paid by cash transfer within 5 working days after the entry into force of this agreement as the security deposit for this equity transfer; the remaining 70% of the equity transfer price shall be paid within 20 working days after the security deposit is delivered. In related transaction, Shaanxi Gas Group Co.,Ltd sign a contract to acquire 2.7% stake in Shaanxi Provincial Natural Gas Co.Ltd from Shaanxi Huashan Venture Capital for approximately CNY 200 million on April 14, 2021. Post completion, Shaanxi Gas Group Co.,Ltd holding will change from 55.36% to 64.43%, remains the company controlling shareholder and .Macao Huashan Investment International Economic Technology Cooperation &Trade Co., Ltd wont hold any more shares in company after this transaction.
Shaanxi Gas Group Co.,Ltd completed the acquisition of a 5.53091% stake in Shaanxi Provincial Natural Gas Co.,Ltd (SZSE:002267) on December 17, 2021.
Shaanxi Provincial Natural Gas Co., Ltd is a China-based company principally engaged in natural gas distribution business. The Company is also engaged in pipeline transportation of natural gas and the operation of gasification projects. Through its subsidiaries, the Company is also engaged in the design, investment, installation, construction, operation and management of natural gas city gasification projects, the development and manufacture of facilities, as well as the construction and operation of vehicle filling stations, among others. The Company mainly conducts its businesses in Shaanxi province.