Shanghai North Bund Co., Ltd. signed the Framework Agreement for the Transfer of Shares to acquire 15% stake in Danhua Chemical Technology Co.,Ltd from Jiangsu Danhua Group Co.,Ltd.
January 21, 2021
Share
Shanghai North Bund (Group) Co., Ltd. signed the Framework Agreement for the Transfer of Shares to acquire 15% stake in Danhua Chemical Technology Co.,Ltd (SHSE:600844) from Jiangsu Danhua Group Co.,Ltd. on January 21, 2021. The North Bund Group pays cash to Danhua Group at the price agreed in this agreement as the consideration for the target shares. Under the terms of transaction, Shanghai North Bund (Group) Co., Ltd. will acquire 152.5 million shares. Upon completion, the company’s controlling shareholder will be changed to the North Bund Group, and the actual controller will be changed to the State-owned Assets Supervision of Shanghai Hongkou District Management committee.
Danhua Chemical Technology Co Ltd is a China-based company principally engaged in the manufacture and distribution of chemical products. The Company's products portfolio consists of ethylene glycol, oxalic acid, as well as catalytic agents. The Company's products are mainly applied in the downstream fields such as polyester, pharmaceuticals and rare earths. In addition, the Company involves in the manufacture of copper palladium powder alloy, activated carbon and others. The Company distributes its products within domestic market and to overseas markets, with domestic market as its main market.
Shanghai North Bund Co., Ltd. signed the Framework Agreement for the Transfer of Shares to acquire 15% stake in Danhua Chemical Technology Co.,Ltd from Jiangsu Danhua Group Co.,Ltd.
DANHUA CHEMICAL TECHNOLOGY CO.,LTD 
