XinJiang Korla Pear Co.,Ltd signed a material asset purchase agreement to acquire Tongyi Petrochemical Co., Ltd., Tongyi Petroleum Products Co., Ltd. and Tongyi Petrochemical Co., Ltd. from Trident Investment Holdings Limited, Huos Group Holding Limited and Wei Ning Trading Co., Limited.
October 10, 2021
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XinJiang Korla Pear Co.,Ltd (SHSE:600506) signed a material asset purchase agreement to acquire Tongyi Petroleum Chemical Co.,Ltd, Tongyi (Wuxi) Petroleum Products Co., Ltd. and Tongyi (Shaanxi) Petrochemical Co., Ltd. from Trident Investment Holdings Limited, Huos Group Holding Limited and Wei Ning Trading Co., Limited on October 11, 2021. XinJiang Korla Pear Co.,Ltd will acquire 92% stake in Tongyi Petroleum from Trident Investment, 3% stake in Tongyi Petroleum from Huos Group,and 5% stake in Tongyi Petroleum from Wei Ning Trading. The company will also acquire acquire 25% stake of Tongyi Wuxi and 25% stake of Tongyi Xianyang from Wei Ning Trading. The transaction has been approved by the board of directors of XinJiang Korla and the transaction still needs approval from shareholders. As of November 5, 2021, XinJiang Korla received the "Concentration of Undertakings Anti-monopoly Review Not Implementing Further Review Decision" issued by the State Administration for Market Regulation Anti-Monopoly Law of the People?s Republic of China, after preliminary review, it is now decided that no further review will be implemented on the case of Xinjiang Korla Pear Co., Ltd.?s acquisition of the equity of Tongyi Petrochemical Co., Ltd.
Uni President Low Carbon Technology Xinjiang Co Ltd, formerly Xinjiang Korla Pear Co Ltd, is a China-based company primarily engaged in the planting, deep processing and sales of fruits. The Company's products include Korla pears and fruit wine. The Company distributes its products in Xinjiang Uygur Autonomous Region, Shanghai, Beijing, Hainan province, Zhejiang province, Guangdong province and Henan province.
XinJiang Korla Pear Co.,Ltd signed a material asset purchase agreement to acquire Tongyi Petrochemical Co., Ltd., Tongyi Petroleum Products Co., Ltd. and Tongyi Petrochemical Co., Ltd. from Trident Investment Holdings Limited, Huos Group Holding Limited and Wei Ning Trading Co., Limited.