Listed rubber company, complete major acquisition!
On February 4, Hainan Natural Rubber Industry Group Co., Ltd. announced the latest progress of major asset restructuring. The acquisition of HAC36% shares held by Sinochem International (Singapore) has been completed.
China Rubber Investment Group Co., Ltd. (hereinafter referred to as overseas SPV), a wholly-owned subsidiary of Hainan Rubber, has paid US $181 million (about 1.226 billion yuan) to Sinochem International (Singapore).
The 574204299 shares of HAC held by Sinochem International (Singapore) have been transferred to overseas SPVs. So far, the overseas SPV officially became the controlling shareholder of HAC on February 3.
It holds HAC574204299 shares, accounting for 36% of the total shares of HAC. According to the agreement, Hainan Rubber has the right to exercise shareholder rights and reorganize the HAC Board of Directors.
At the same time, the company will launch a mandatory tender offer for all the remaining shares of HAC.
It is understood that Sinochem International (Singapore) is a wholly-owned subsidiary of Sinochem International.
HAC is mainly engaged in the planting, processing, sales and trade of natural rubber and latex. It has 4 plantations and 37 factories in the world, and nearly 600000 mu of rubber forest.
