Lander Sports Development Co.,Ltd. signed an agreement to acquire 63.34% stake in Chengdu Culture&Tourism Development Co.,Ltd. from Chengdu Culture & Tourism Development Group Ltd.
December 13, 2020
Share
Lander Sports Development Co.,Ltd. (SZSE:000558) signed an agreement to acquire 63.34% stake in Chengdu Culture&Tourism Development Co.,Ltd. from Chengdu Culture & Tourism Development Group Ltd. on December 11, 2020. Lander Sports will acquire the stake in Chengdu Culture&Tourism Development Co.,Ltd. through issuance of shares at CNY 2.78 per share. Chengdu Culture&Tourism Development Co.,Ltd., reported net assets of CNY 630.88 million. The transaction is subject to approval from State-Owned Supervision and Management Department and Filing of the Target Assets’ Audit and Assessment Reports., Second Approval of the Lander Sports Development's Directorate after the Target Assets’ Audit and Assessment Work are Completed, Lander Sports Development's shareholder approval, CSRC’s Approval and other approvals. The transaction was approved by Chengdu Culture&Tourism Development Co.,Ltd. and Lander Sports Development.
Lander Sports Development Co.,Ltd., formerly Lander Real Estate Co., Ltd., is a China-based company principally engaged in the distribution and leasing of real estates, as well as the sale of energy and trading. The Company is also involved in sports operation. Its sports operation business includes sports events, sports media, sports finance, sports network, sports real estate and physical education. The Company also operates sports complex stadiums, gymnasiums and fitness centers in the football, basketball and winter sports areas. The Company mainly operates its business in Zhejiang Province and Shanghai, China.
Lander Sports Development Co.,Ltd. signed an agreement to acquire 63.34% stake in Chengdu Culture&Tourism Development Co.,Ltd. from Chengdu Culture & Tourism Development Group Ltd.