Wire flash
Andeli to Acquire Control of Yongqiang Tech for 793 Million Yuan
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On September 18, Chinese company Andeli (Anli) announced it had signed three asset purchase agreements to acquire a controlling stake in Ningbo Yongqiang Technology Co., Ltd. The company plans to purchase a 62.0611% equity interest in Yongqiang Technology for a total cash consideration of 793 million yuan (RMB). The audit and valuation processes for the transaction have been completed. The acquisition proposal was approved at the 12th meeting of Andeli's Ninth Board of Directors and does not require approval from the shareholders' meeting. This move follows Andeli's previously disclosed plan to gain control of Yongqiang Technology through a partial equity purchase.
Source report
Jin10 Data, September 18 — Anli has announced that it has signed three asset purchase agreements with the relevant counterparties and Yongqiang Technology on September 18, following its previously disclosed plan to acquire control of Ningbo Yongqiang Technology Co., Ltd. by purchasing a portion of its equity.
Key Details
- Audit and valuation for the transaction have been completed.
- Acquisition target: A 62.0611% stake in Yongqiang Technology.
- Transaction value: RMB 793 million in cash.
- Approval status: The related proposal has been approved at the 12th meeting of the Ninth Board of Directors.
- Shareholder vote: The transaction does not require approval from the shareholders' meeting.
Source
金十数据Eastern
Part of this Story
Andeli acquires 62% stake in Yongqiang Technology for 793 million yuan in cross-industry deal