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Honghua Group Ltd's Indirect Wholly Owned Subsidiary Announces Acquisition Of Bazhou Honghua Petroleum Applied Chemistry Co., Ltd


Wednesday, 27 Mar 2013 07:03pm EDT 

Honghua Group Ltd announced that on March 25, 2013, Honghua Oil& Gas Engineering and Technology Services (Sichuan) Co., Ltd. (Honghua Oil and Gas), an indirect wholly owned subsidiary of the Company, and the Mr. Chao Jiang (Seller) entered into an equity transfer agreement (the Equity Transfer Agreement ). Pursuant to the Equity Transfer Agreement, the Seller agreed to sell, and Honghua Oil and Gas agreed to purchase , 55% equity interest of Bazhou Anton Chang Xiang Applied Chemical Technology Co., Ltd. ( subsequently renamed Bazhou Honghua Petroleum Applied Chemistry Co., Ltd.) (Bazhou Company) at a consideration of RMB51.9 million. Upon completion of equity transfer, Honghua Oil and Gas will hold 55% share of Bazhou Company. Bazhou Company, a company incorporated in the People‚Äôs Republic of China with limited liability, is principal ly engaged in providing drilling fluid material and related services. 

Company Quote

1.88
-0.04 -2.08%
16 Sep 2014