Recently, Shaanxi Provincial Market Regulatory Bureau released the case of Anhui Conch Cement Co., Ltd. acquiring part of the business of Yaobai Special Cement Group Co., Ltd.
Anhui Conch Cement Co., Ltd. ( "Anhui Conch") signed agreements with Yaobai Special Cement Group Co., Ltd. ( "Yaobai Group"), Moyu Yaobai Cement Co., Ltd. Anhui Conch acquired 100% equity of Yili Yaobai Cement Co., Ltd. ( "Yili Yaobai Cement"), Xinjiang Baihang Environmental Protection Technology Co., Ltd. ( "Xinjiang Baihang"), Huocheng County Nangang Xixin Mining Co., Ltd. ( "Xixin Mining", together with Yili Yaobai Cement and Xinjiang Baihang, the "Target Company"). Acquisition of the assets of Moyu Yaobai Cement Co., Ltd. ( "Target Asset 1"), Moyu Yaobai Building Materials Co., Ltd. ( "Target Asset 2"), Hetian Yaobai Cement Co., Ltd. (Target Asset 3), Hetian Yaobai Building Materials Co., Ltd. ( "Target Asset 4") and Hetian Luxin Building Materials Co., Ltd. ( "Target Asset 5", collectively the "Target Assets").
The Target Company and the Target Assets are principally engaged in the business of general cement, commercial concrete and co-processing of industrial hazardous solid wastes in cement kilns. Before the transaction, Yaobai Group held 100% of the equity of the target company and held the target assets separately, and controlled the target company and the target assets separately. After the transaction, Anhui Conch will hold 100% equity interest in the Target Company and solely hold the Target Assets, and solely control the Target Company and the Target Assets.
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