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Jiangsu Shentong signed a letter of intent with Dewei Valve Casting (Suzhou) and its controlling shareholder HOT EXCESS HOLDINGS to take control of Dewei through a mix of share purchase and cash capital injection. Dewei is a valve supplier to major international oil and gas companies.
“公司拟通过受让标的公司现有股份及以现金向标的公司增资相结合的方式收购标的公司控股权。”beta.zhitongcaijing.com
Summarized from public sources; check the original articles before acting on it.