News Column

China Baoan Plans to Buy 32.15% of BTR New Energy Materials

August 15, 2014

SHANGHAI, August 15, SinoCast -- China Baoan discloses that it plans to take over 32.15% equities in BTR New Energy Materials by issuing 86.89 million shares to the latter's shareholder.

BTR is one of LIB anode material suppliers in the world.

Baoan Holdings, a wholly-owned unit of China Baoan, has held 57.78% of BTR and it will directly and indirectly hold 89.93% of BTR after the deal.

BTR made CNY 88.30 million net profits in 2013, representing 30.2% of net profits of China Baoan in the period.

The takeover definitely will help China Baoan strengthen lithium battery material production capacity.

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

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