Wepon's sale of two subsidiaries' equity passes anti-monopoly review
2021-01-12 14:57:04 [Print]
Wepon announced on January 11 that Dongliang Aluminum Co
Wepon announced on December 24 that it plans to sell its 100% equity in Dongliang Aluminum Co. Ltd . and 51% equity in Huzhou Jiacheng Powder Coatings Co . , Ltd . to Huzhou Wepon Investment Co, Ltd . by cash transaction . Through negotiation between the two parties, the transaction price of this sale of equity was determined as about 1 . 35 billion yuan (209 million US dollars).
. Ltd . , the company's wholly-owned subsidiary, received a decision issued by the State Administration for Market Regulation on January 8 that the anti-monopoly review of concentrated business operators will not be further reviewed . The decision stated that no further review shall be implemented on the case of Huzhou Wepon Investment Co, Ltd . 's acquisition of the equity of Dongliang Aluminum Co . , Ltd.Wepon announced on December 24 that it plans to sell its 100% equity in Dongliang Aluminum Co. Ltd . and 51% equity in Huzhou Jiacheng Powder Coatings Co . , Ltd . to Huzhou Wepon Investment Co, Ltd . by cash transaction . Through negotiation between the two parties, the transaction price of this sale of equity was determined as about 1 . 35 billion yuan (209 million US dollars).