Yunnan Energy New Material Announces Progress on Acquisition of Minority Stake in Subsidiary and Formation of Joint Venture with EVE Energy
Deep News
Sep 27
On September 27, Yunnan Energy New Material (Group) Co., Ltd. (ASX: 002812) issued an announcement stating that its controlling subsidiary, Shanghai Enjie, has signed an Equity Transfer Agreement for Hubei Enjie New Material Technology Co., Ltd. with EVE Energy Co., Ltd. (ASX: 300014).
Under the agreement, Shanghai Enjie will acquire EVE Energy's 45% equity interest in Hubei Enjie for RMB 1.15 billion using its own funds and self-raised capital.
Following the completion of this transaction, the company's controlling subsidiary, Shanghai Enjie, will hold 100% of the equity in Hubei Enjie.
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