Narada Power to acquire 49% of shares of Huabo Techonology with RMB1.96 billion
2017-08-09 17:39:26 [Print]
Narada Power announced on 7 August that it plans to acquire 49% of shares of Anhui Huabo Renewable Resources Technology Co., Ltd. (Huabo Technology) from Zhu Baoyi by means of private placement and cash payment; the overall price is determined to be RMB1.96 billion, with RMB1.47 billion paid by private placement and RMB490 million paid by cash. Narada Power will directly hold 100% of shares of Huabo Technology after the transaction.
Narada Power claimed that the purpose of this acquisition is to further strengthen controlling ability by acquiring shares of minority shareholders’ interest and guarantee supply of raw material. As a leading company of lead recycling around the world, Huabo Technology has comprehensive advantages of one-up scale and technology and relatively strong profitability.
Narada Power claimed that the purpose of this acquisition is to further strengthen controlling ability by acquiring shares of minority shareholders’ interest and guarantee supply of raw material. As a leading company of lead recycling around the world, Huabo Technology has comprehensive advantages of one-up scale and technology and relatively strong profitability.
Lead Ingot Secondary 99.994%min Ex-VAT EXW China
Unit:RMB/mt
China secondary lead producers' inventory statistics by province by month
Unit: mt
