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Sichuan Fuhua, transferee of 29.19% shares of Nantong Jiangshan

On 29 September 2018, Sinochem International Corporation (Sinochem International) and Sichuan Fuhua Crop Protection Technology Investment Co., Ltd. (Sichuan Fuhua) signed a Share Transfer Agreement. Sichuan Fuhua became the transferee of 29.19% of shares in Nantong Jiangshan Agrochemical & Chemical Co., Ltd. (Nantong Jiangshan), with transfer price at USD3.0/share and sum at USD261.5 million. The payment was in cash.

 

Review on the event

²  On 30 January 2018, Sinochem International intended to transfer its holding of 29.19% of shares in Nantong Jiangshan and opened doors to the transferee.

²  On 20 August 2018, the State-owned Assets Supervision and Administration Commission of the State Council replied, allowing Sinochem International to make agreement based transfer of 29.19% of shares in Nantong Jiangshan by seeking the transferee in the public.

²  From 22 August to 4 September 2018, Sinochem International received the materials and guaranty submitted by Sichuan Fuhua for the intent to be the transferee.

²  On 29 September 2018, Sinochem International finally signed the Share Transfer Agreement with Sichuan Fuhua along with entry-into-force conditions.


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