Brief: China Ocean Industry's unit enters into acquisition agreement
16/11/2016 14:55
Nov 16 (Reuters) - China Ocean Industry Group Ltd 0651.HK
:
* Vendors have conditionally agreed to sell sale equity
* Company expects to forge shipbuilding industry chain in
nantong region in future.
* Unit agreed to acquire sale equity, being entire
registered capital of target company
* Purchaser, a wholly-owned subsidiary of company, vendors
and Ma entered into acquisition agreement
* Deal for consideration of RMB270 million
* Company will consider using appropriate debt and/or equity
financing to finance remaining consideration
* Vendors have guaranteed net profit of target group for
first relevant period shall be no less than rmb15 million
Source text for Eikon: ID:nHKS72FvPV
Further company coverage: 0651.HK
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