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Xinfengming acquires 35% stake in Guangxi Tongkun for $16.4M · Endata

◂ Announcements

Specialty Chemicalsworld trade 2024+2.3% 5Y CAGR

Mar 27, 2023ACQUISITIONQinzhou, Guangxi, China

Xinfengming acquires 35% stake in Guangxi Tongkun for $16.4M

Xinfengming (603225.SH) signed an agreement on March 27, 2023 to acquire a 35% stake in Guangxi Tongkun Petrochemical Co., Ltd. from Tongkun Holding for 113 million yuan (about $16.4 million). Guangxi Tongkun is a chemical raw materials company in the early construction stage in Qinzhou, Guangxi.

Value

$16.4M (113.0M CNY)

Status

Announced

Productschemical raw materials

CompaniesXinfengming Group acquirer Tongkun Group target Guangxi Tongkun Petrochemical target

Sectors#Specialty Chemicals

“公司以自有现金1.13亿元(非募集资金)购买桐昆控股全资子公司广西桐昆石化有限公司(简称“广西桐昆”)35%的股权。”beta.zhitongcaijing.com

1 source
beta.zhitongcaijing.com新凤鸣(603225.SH)拟1.13亿元收购广西桐昆35%股权发展化工新材料相关业务Mar 27, 2023

Summarized from public sources; check the original articles before acting on it.

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