Xiamen ITG Holding Group Co., Ltd. completed the acquisition of 100% stake in ITG Real Estate Group Co.,Ltd. and 51% stake in Xiamen International Trade Development Co., Ltd. from Xiamen ITG Group Corp., Ltd. and Xiamen Qirun Industry Co., Ltd.
July 19, 2021
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Xiamen ITG Holding Group Co., Ltd. agreed to acquire 100% stake in ITG Real Estate Group Co.,Ltd. and 51% stake in Xiamen International Trade Development Co., Ltd. from Xiamen ITG Group Corp., Ltd. (SHSE:600755) and Xiamen Qirun Industry Co., Ltd. for CNY 1 billion on June 11, 2021. Under the terms of the transaction, Xiamen ITG Holding Group Co., Ltd. will pay CNY 982.8 million to acquire 100% stake in ITG Real Estate Group Co.,Ltd. from Xiamen ITG Group Corp., Ltd. and Xiamen Qirun Industry Co., Ltd. and CNY 52 million for 51% stake in Xiamen International Trade Development Co., Ltd. from Xiamen ITG Group Corp., Ltd. The transaction is still needs to be approved by the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government and shareholders approval of Xiamen ITG Group Corp., Ltd. The transaction was approved by the Board of Directors of Xiamen ITG Group Corp., Ltd. The transaction was approved by the Xiamen State-owned Assets Supervision and Administration Commission on June 23, 2021. On June 28, 2021, shareholder of Xiamen ITG Group Corp., Ltd has approved the transaction.
Xiamen ITG Holding Group Co., Ltd. completed the acquisition of 100% stake in ITG Real Estate Group Co.,Ltd. and 51% stake in Xiamen International Trade Development Co., Ltd. from Xiamen ITG Group Corp., Ltd. (SHSE:600755) and Xiamen Qirun Industry Co., Ltd. on July 20, 2021.
Xiamen ITG Corp Ltd is a Chinese company primarily engaged in supply chain management business. The Company operates through three segments. The Supply Chain Management Business Segment is mainly engaged in bulk trade, logistics services, health technology and others. The Real Estate Operating Business Segment is mainly engaged in real estate development and management. The Financial Services Business Segment is mainly engaged in inclusive finance, industrial finance, futures brokerage, asset management, risk management and others. The Company mainly conducts its business in domestic market.
Xiamen ITG Holding Group Co., Ltd. completed the acquisition of 100% stake in ITG Real Estate Group Co.,Ltd. and 51% stake in Xiamen International Trade Development Co., Ltd. from Xiamen ITG Group Corp., Ltd. and Xiamen Qirun Industry Co., Ltd.