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Zhejiang Fuchunjiang Hydropower Equipment Co Ltd Announces Updates on Acquisition of 38% Stake in Shanghai-based Company with Holding Shareholder


Tuesday, 22 Oct 2013 08:00pm EDT 

Zhejiang Fuchunjiang Hydropower Equipment Co Ltd announced that it will acquire a 85.53% stake in an investment company, which is a special purpose company established for acquisition of stake in a Shanhai-based network technology company, for RMB 650 million, from Mr. Pang Shengdong. The Company's shareholder, Mr. Sun Yi, will acquire a 14.47% stake in the special purpose company, for RMB 110 million, from Mr. Pang Shengdong. After the transaction, the Company and Mr. Sun Yi will jointly hold a 100% stake in the special purpose company and indirectly hold a 38% stake in the Shanhai-based network technology company. 

Company Quote

7.32
-0.01 -0.14%
17 Apr 2014