Shandong Marine Group Ltd. signed a framework agreement to acquire 17.22% stake in Shandong Shengli Co., Ltd. from Sunshine Life Insurance Corporation Limited, Shandong Shengli Investment Co., Ltd., Jining Qilu Testing Technology Co., Ltd. and Shandong Nova Bio-engineering Co., Ltd.
July 30, 2021
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Shandong Marine Group Ltd. signed a framework agreement to acquire 17.22% stake in Shandong Shengli Co., Ltd. (SZSE:000407) from Sunshine Life Insurance Corporation Limited, Shandong Shengli Investment Co., Ltd., Jining Qilu Testing Technology Co., Ltd. and Shandong Nova Bio-engineering Co., Ltd. on January 8, 2021. As a part of the transaction 151.51 million shares will be transferred. If the parties does not sign share transfer agreement by June 30, 2021, the transaction will automatically terminate.
SHANDONG SHENGLI CO., LTD. is a China-based company principally engaged in the sales of natural gas. The Company mainly operates through four business segments. The Natural Gas segment is engaged in the sales of natural gas. The Natural Gas Pipeline Manufacturing segment is engaged in the manufacture and sales of plastic pipelines. The Agrochemical segment is engaged in the production and sales of pesticides and fertilizers. The Trading and Others segment is engaged in the trading of refined oil, the importing of polyethylene (PE) raw materials and red wine, as well as the investment and other businesses. The Company principally operates its businesses in domestic market.
Shandong Marine Group Ltd. signed a framework agreement to acquire 17.22% stake in Shandong Shengli Co., Ltd. from Sunshine Life Insurance Corporation Limited, Shandong Shengli Investment Co., Ltd., Jining Qilu Testing Technology Co., Ltd. and Shandong Nova Bio-engineering Co., Ltd.
SHANDONG SHENGLI CO., LTD. 
