Asia
Hubei Heyuan Gas to Acquire 11% More Stake in Subsidiary For 227 Million Yuan
Hubei Heyuan Gas (SHE:002971) plans to acquire an additional 10.9% stake in its subsidiary Hubei Heyuan New Materials for about 227.2 million yuan, according to a Tuesday filing with the Shenzhen bourse.The company will purchase the shares from Yichang Xingyuan Industrial Investment Fund and Wuhan Changniu Enterprise Management Partnership.On completion of the acquisition, Hubei Heyuan Gas' stake in Heyuan New Materials will rise to 84.2% from 73.3%.The transaction will be funded through the company's internal resources and is not expected to materially affect the company's operations or cash flow.
SHE:002971
