Huayou Cobalt to acquire shares of B&M Science and Technology at RMB1.35 billion
2021-05-24 17:05:55 [Print]
Huayou Cobalt announced that it will acquire 38.6175% shares of B&M Science and Technology from Hangzhou Hongyuan at about RMB1.35 billion (USD209.93 million). From the date when the deal is finished, Huayou Holding, the holding shareholder of Huayou Cobalt, will agree to entrust its voting right and other rights related to its 26.4047% shares of B&M Science and Technology to Huayou Cobalt. When the voting right entrusting agreement comes into effect, Huayou Cobalt will totally control 65.0222% voting right of B&M Science and Technology and accordingly can realize the control of the latter.
B&M Science and Technology mainly engages in R&D, production and marketing of lithium-ion battery cathode materials with LCO and NCM (containing high-nickel) as its main products. B&M Science and Technology and the existing new energy material business of its listed company have an upstream-downstream relationship and thus the above acquisition will generate great synergy effects.
B&M Science and Technology mainly engages in R&D, production and marketing of lithium-ion battery cathode materials with LCO and NCM (containing high-nickel) as its main products. B&M Science and Technology and the existing new energy material business of its listed company have an upstream-downstream relationship and thus the above acquisition will generate great synergy effects.
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