News Column

Huifeng Agrochemical Controls 53% of Jialong Chemicals

May 12, 2014

SHENZHEN, May 12, SinoCast -- Jiangsu Huifeng Agrochemical Co., Ltd. (SZSE: 002496) said it acquired a 53.2518% stake in Jiangsu Jialong Chemicals Co., Ltd. For about 125.4 million. In detail, it acquired about 8.78 million shares of Jialong Chemicals from shareholders of the target for CNY 6 each. It invested about CNY 24.23 million in the latter for shares at CNY 3 each.

Jialong Chemicals is mainly engaged in the production and sale of pesticides. Nominal total assets, owner's equity, operating revenue and net loss each hit about 466.08 million, 48.32 million, 285.41 million and 19.69 million as at September 30, 2013.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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