Satellite Chemical to acquire Jiangsu Jiahong New Materials for CNY 1.524 billion

Satellite Chemical's subsidiary Lianyungang Petrochemical agreed to acquire 100% of Jiangsu Jiahong New Materials from Satellite Holding and Kunyuan Investment for 1.524 billion yuan to avoid potential competition and expand C3 product chain.

“连云港石化拟以现金方式收购卫星控股和昆元投资持有的江苏嘉宏新材料有限公司100%股权，交易金额为15.24亿元。”beta.zhitongcaijing.com

• 2 sources
• beta.zhitongcaijing.com卫星化学(002648.SZ)拟15.24亿元收购嘉宏新材100%股权 避免潜在同业竞争并完善相关产品结构Sep 12, 2023
• allhdi.comSatellite Chemical plans to acquire 100% equity of Jiahong New Materials to increase investment in high-end chemicals industry chain_Toluene diisocyanate manufacturerSep 14, 2023

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