Juhua Group Corporation, Ltd. completed the acquisition of Zhejiang Quzhou Jutai Building Materials Co., Ltd. and Quzhou Qingtai Environmental Engineering Co., Ltd from Zhejiang Feida Environmental Science & Technology Co., Ltd..
December 30, 2020
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Juhua Group Corporation, Ltd. intends to acquire Zhejiang Quzhou Jutai Building Materials Co., Ltd. and Quzhou Qingtai Environmental Engineering Co., Ltd from Zhejiang Feida Environmental Science & Technology Co., Ltd. (SHSE:600526) for approximately CNY 600 million on December 3, 2020. Juhua Group Corporation will pay CNY 217.99 million for Zhejiang Quzhou Jutai Building Materials and will pay CNY 385.09 million for Quzhou Qingtai Environmental Engineering. As of December 31, 2020, Juhua Group has separately transferred 60% of the price for Zhejiang Quzhou Jutai Building Material and Quzhou Qingtai Environmental Engineering that is CNY 361.9 million. For the period ended October 31, 2020, Zhejiang Quzhou Jutai Building Materials and Quzhou Qingtai Environmental Engineering reported total assets of CNY 3.59 trillion and CNY 4.71 trillion net assets of CNY 1.89 trillion and CNY 2.68 trillion, total liabilities of CNY 1.7 trillion and CNY 2.03 trillion. The transaction was reviewed and approved at the 39th meeting of the Zhejiang Feida Environmental Science & Technology seventh directorate and is subject to shareholders meeting for review and approval. Transaction is also subject to State-owned Assets Supervision and Administration Commission of Zhejiang Provincial People's Government approval. As of December 19, 2020, the transaction was approved in the 6th special shareholders meeting for 2020 of Zhejiang Feida Environmental Science & Technology Co., Ltd. As of December 29, 2021, transaction was approved by State-owned Assets Supervision and Administration Commission of Zhejiang Provincial People's Government.
Juhua Group Corporation, Ltd. completed the acquisition of Zhejiang Quzhou Jutai Building Materials Co., Ltd. and Quzhou Qingtai Environmental Engineering Co., Ltd from Zhejiang Feida Environmental Science & Technology Co., Ltd. (SHSE:600526) on December 31, 2020.
ZHEJIANG FEIDA ENVIROMENTAL SCIENCE & TECHNOLOGY CO., LTD. is a China-based company, principally engaged in the research and development, design, manufacture and distribution of environmental protection equipment. The Company provides electrostatic precipitators, pneumatic conveying equipment, fuel gas desulfurization equipment, electrical component parts, switch cabinets, waste incineration flue gas treatment equipment and bag dust collectors, among others. It also provides installation and technical services. It distributes its products within domestic market and to overseas markets.