Wire flash
Xinhua Winshare to Acquire Sichuan Ethnic Publishing House for 346 Million Yuan
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Xinhua Winshare Publishing and Media Co., Ltd. (601811.SH) announced on September 21 that it plans to acquire 100% equity of Sichuan Ethnic Publishing House Co., Ltd. from its controlling shareholder, Sichuan Xinhua Publishing and Distribution Group, for a total consideration of 346 million yuan in cash. The transaction is classified as a related-party transaction but does not constitute a major asset restructuring. The company stated that the acquisition will help it further expand its presence in the ethnic publishing sector and also help resolve potential issues of horizontal competition. The announcement was made via the official financial news platform Cailianshe.
Source report
September 21 — Xinhua Winshare Publishing and Media Co., Ltd. (601811.SH) announced that it plans to acquire 100% equity of Sichuan Ethnic Publishing House Co., Ltd. from its controlling shareholder, Sichuan Xinhua Publishing and Distribution Group, using its own funds. The acquisition price is set at 346 million yuan.
The transaction constitutes a related-party transaction but does not qualify as a major asset restructuring.
According to the company, the acquisition is expected to:
- Further strengthen Xinhua Winshare's presence in the ethnic publishing sector
- Help resolve potential issues of horizontal competition
Source
财联社Eastern
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Xinhua Winshare to acquire Sichuan Nationalities Publishing House for 346 million yuan