China Security & Fire Co.,Ltd and China Security & Fire Technology Group Co., Ltd. agreed to acquire Zhejiang Hirun Information Technology Co., Ltd. and Jiangsu China Sciences Intelligent Engineering Co., Ltd.
July 20, 2016
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China Security & Fire Co.,Ltd (SHSE:600654) and China Security & Fire Technology Group Co., Ltd. agreed to acquire Zhejiang Hirun Information Technology Co., Ltd. and Jiangsu China Sciences Intelligent Engineering Co., Ltd. on July 21, 2016. In a related transaction, China Security & Fire Technology Group Co., Ltd. agreed to acquire Beijing Primecloud Technology Co., Ltd from Beijing Hechuang Shengda Investment Center (LP), Hubei Hongxu Investment Management Co., Ltd., Lhasa Juhuitong Asset Management Co., Ltd. and Shanghai Daoji Chenba Investment Partnership (LP) on July 21, 2016. The total consideration for the two transactions is CNY 1.7 billion and will be paid in cash.
The deal has been approved by the Board of Directors of China Security & Fire on July 21, 2016. On August 9, 2016, the shareholders of China Security & Fire approved the deal. On August 15, 2016, China Security & Fire Co. and China Security & Fire Technology completed the acquisition of Zhejiang Hirun Information Technology. China Merchants Securities Co., Limited (SHSE:600999) acted as financial advisor for China Security & Fire Co.,Ltd in the transaction, China Commercial Law Firm acted as legal advisor for China Security & Fire Co.,Ltd. in the transaction and Ruihua Certified Public Accountants, LLP acted as an accountant for China Security & Fire Co.,Ltd in the transaction.
China Security Co., Ltd, formerly China Security & Fire Co., Ltd., is a China-based company principally engaged in the security systems integration and the manufacture of intelligent security products. Its products include security systems integration and security products, which are applied in several fields, such as financial, commercial property, education, transportation and medical service, among others. The Company is also engaged in security business, providing intelligent public safety and security operation services. The Company conducts its businesses within domestic and overseas markets.
China Security & Fire Co.,Ltd and China Security & Fire Technology Group Co., Ltd. agreed to acquire Zhejiang Hirun Information Technology Co., Ltd. and Jiangsu China Sciences Intelligent Engineering Co., Ltd.
CHINA SECURITY CO., LTD. 