# Silk Road Logistics Holdings to acquire 70% stake in Longyuan Company

Silk Road Logistics Holdings (00988) signed a letter of intent on March 23, 2020, to acquire 70% of Longyuan Company from seller Wang Zhong. Longyuan is involved in mining, coal sales, and engineering machinery sales.

- Type: Acquisition
- Announced: 2020-03-23
- Where: Baotou, China
- Status: announced
- Products: coal, engineering machinery, mining services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Silk Road Logistics Holdings](https://endata.com/companies/46074.md)
- [Longyuan Company](https://endata.com/companies/46075.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/285019.html), 2020-03-23: "丝路物流控股(00988)发布公告，于2020年3月23日，公司与卖方王忠订立意向书，拟收购龙源公司70%的股权。"

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