CTHM's equity acquisition of Nanchang Cemented Carbide Company completed
2020-11-02 16:26:49 [Print]
CTHM recently issued the Announcement on Completion of the Equity Acquisition of Nanchang Cemented Carbide Co., Ltd.
CTHM previously announced that the company intended to acquire an 84.9667% stake in Nanchang Cemented Carbide Co., Ltd. held by Minmetals Tungsten Industry Group Co., Ltd. at RMB285 million (USD41.20 million) through a non-public agreement transfer.
On October 30, 2020, Nanchang Cemented Carbide Company received the Notice of Change of Registration of Foreign-invested Enterprises issued by Nanchang Administrative Approval Bureau and the new business license. The equity transfer registration procedures and foreign-invested enterprise change filing procedures involved in this transaction were completed, and Nanchang Cemented Carbide Company was changed to a subsidiary of CTHM and included in the company's consolidated statements.
CTHM previously announced that the company intended to acquire an 84.9667% stake in Nanchang Cemented Carbide Co., Ltd. held by Minmetals Tungsten Industry Group Co., Ltd. at RMB285 million (USD41.20 million) through a non-public agreement transfer.
On October 30, 2020, Nanchang Cemented Carbide Company received the Notice of Change of Registration of Foreign-invested Enterprises issued by Nanchang Administrative Approval Bureau and the new business license. The equity transfer registration procedures and foreign-invested enterprise change filing procedures involved in this transaction were completed, and Nanchang Cemented Carbide Company was changed to a subsidiary of CTHM and included in the company's consolidated statements.
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