Li Xianguo agreed to acquire 92.85% stake in Chengdu Catcher Landscape Co., Ltd from Huasu Holdings Co.,Ltd for CNY 65 million.
January 16, 2018
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Li Xianguo agreed to acquire 92.85% stake in Chengdu Catcher Landscape Co., Ltd from Huasu Holdings Co.,Ltd (SZSE:000509) for CNY 65 million on January 15, 2018. The consideration is paid in cash. Under the terms, the consideration will be paid in 3 installments; 5% of the consideration will be paid as first installment within 2 days since the date of approval by the board of directors; 50% of the consideration will be paid as second installment on the day of presentation of the relevant documents to the Industrial and Commercial Registry Bureau and a payment of 45% of the consideration will be done as third installment within 2 days since completion of the relevant change of registry procedures. In related transaction, Huasu Holdings Co.,Ltd agreed to acquire 51% stake in Shanghai Yinghua Hospital Management Co., Ltd from Suzhou Yinghua Park Investment Partnership (General Partnership) for CNY 63.8 million on January 15, 2018. As of July 31, 2018, Chengdu Catcher Landscape Co., Ltd reported total assets of CNY 114.2 million and net assets of CNY 43.9 million. The transaction is approved by Board of Directors of Huasu Holdings Co.,Ltd. Bohai Securities Co., Ltd acted as Independent Financial Advisor to Huasu Holdings Co.,Ltd.
Huasu Holdings Co., Ltd. is a China based company principally engaged in the sales of building materials. The Company operates its business through two segments. The Building Materials segment is mainly engaged in the production and sales of plastic doors and windows, plastic profiles, aluminum alloy profiles as well as provides doors and windows installation services. The Landscape segment is mainly engaged in landscaping, landscape engineering, landscape design and construction, real estate greening and municipal engineering construction business. The Company mainly operates its business in southwest China.