# Global New Material International to acquire 42.45% stake in CQV for $67M

Global New Material International Holdings Limited announced it will purchase approximately 3.13 million shares and subscribe for about 1.18 million treasury shares of CQV Co. Ltd. for a total consideration of approximately RMB 470 million (approx. $67 million). Upon completion, it will hold 42.45% of CQV's issued shares and become the single largest shareholder.

- Type: Acquisition
- Announced: 2023-01-27
- Where: South Korea
- Value: $67.0M (470.0M CNY)
- Status: announced
- Products: pearlescent pigments, synthetic mica powder
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [CQV](https://endata.com/companies/64208.md) (target)
- [Global New Material International Holdings](https://endata.com/companies/68176.md) (acquirer)

## Sources

- [en.prnasia.com](https://en.prnasia.com/releases/apac/global-new-material-international-to-acquire-cqv-to-accelerate-penetration-in-the-global-markets-391480.shtml), 2023-01-29: "Global New Material International Holdings Limited is pleased to announce that the Company will purchase approximately 3.13 million shares of CQV Co. Ltd. and subscribe for about 1.18 million CQV Treasury Shares in the form of the consideration shares and cash consideration in aggregate amount of ap"
- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/869975.html), 2023-02-01: "此次并购是公司外延式发展的重要起点。"

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