# Huafon Spandex to acquire Huafon New Material for 12 billion yuan

Huafon Spandex plans to acquire 100% of Huafon New Material from Huafon Group and others for 12 billion yuan, in a related-party transaction. The deal includes a cash payment of 1.2 billion yuan to the controlling shareholder family.

- Type: Acquisition
- Announced: 2019-06-26
- Where: China
- Value: $1.74B (12.0B CNY)
- Status: announced
- Products: spandex, chemical materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Huafon Group](https://endata.com/companies/35674.md) (partner)
- [Huafon Spandex](https://endata.com/companies/40318.md) (acquirer)
- [Huafon New Material](https://endata.com/companies/40319.md) (target)

## Sources

- [fortunepaper.cn](http://www.fortunepaper.cn/a/20190628/75943.html), 2019-06-28: "华峰氨纶披露重大资产重组预案。公司拟采取发行股份及支付现金方式收购浙江华峰新材料股份有限公司（简称华峰新材）100%股权。"
- [schcnc.com](https://www.schcnc.com/news/570960/), 2019-07-02: "华峰氨纶拟120亿元并购控股股东旗下华峰新材100%股权，并配套募资20亿元。"

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.