Estun plans to acquire remaining stakes in subsidiary, raising ownership to 95%
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On September 23, Nanjing Estun Automation Co., Ltd. (SZ 002747, closing price: 29.47 yuan) announced plans to acquire additional equity in its subsidiary Estun Intelligent Technology (Jiangsu) Co., Ltd. The company intends to participate in a public listing at the Shanghai United Assets and Equity Exchange to purchase approximately 19.46% and 3.78% stakes held by the National Manufacturing Transformation and Upgrading Fund and the China State-owned Enterprise Mixed Ownership Reform Fund, with base prices of about 211 million yuan and 40.25 million yuan respectively. Additionally, Estun will acquire approximately 21.62% of Estun Jiangsu Intelligent from General Technology High-end Equipment Industry Equity Investment (Tongxiang) Partnership via agreement transfer. Upon completion, Estun's ownership in the subsidiary will increase from about 50.15% to 95.0107%.
Source report
Estun Automation Co., Ltd. (SZ 002747, closing price: 29.47 yuan) announced on the evening of September 23 that it plans to acquire additional equity in its subsidiary, Estun Jiangsu Intelligent Co., Ltd., through a combination of public bidding and agreement-based transfer.
Transaction Details
- Public Bidding via Shanghai United Assets and Equity Exchange:
- Acquire approximately 19.46% equity held by the National Manufacturing Transformation and Upgrading Fund Co., Ltd., with a base transaction price of approximately 211 million yuan.
- Acquire approximately 3.78% equity held by the China State-owned Enterprise Mixed Ownership Reform Fund Co., Ltd., with a base transaction price of approximately 40.25 million yuan.
- Agreement-based Transfer:
- Acquire approximately 21.62% equity held by General Technology High-End Equipment Industry Equity Investment (Tongxiang) Partnership (Limited Partnership).
Post-Transaction Ownership
Upon completion of the above transactions, Estun Automation's shareholding in Estun Jiangsu Intelligent will increase from approximately 50.15% to 95.0107%.
This article is sourced from National Business Daily (NBD). Reporter: Lu Xiangyong.
Source
每日经济新闻Eastern
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Estun Automation to raise subsidiary stake to 95% in 2.5 billion yuan deal