Ningbo Shanshan (SHA:600884) plans to acquire the SP business and some assets of the South Korean chemical company LG Chem (KRX:051910), according to a Sept. 27 disclosure on the Shanghai Stock Exchange.
The agreement will be made through the Chinese battery material manufacturer's subsidiary, Shanjin Optoelectronics (Suzhou), and its wholly-owned subsidiary, Shanjin Optoelectronics (Guangzhou).
The details of the deal, including the price, are still being negotiated, the disclosure said.
LG Chem's shares fell more than 1% at the close.
Price (RMB): ¥9.32, Change: ¥+0.77, Percent Change: +9.01%
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