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. 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).
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).
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