On December 27, Chongqing Water Group Co.Ltd(601158) (601158) announced that it was planned that the affiliated company would acquire part of the water supply and drainage project assets and related creditor’s rights and debts of the major shareholder Chongqing Water Group Co.Ltd(601158) environmental Holding Group Co., Ltd. Among them, the assets of four sewage projects include Yuelai sewage treatment plant phase I project, Xiaojiahe sewage treatment plant phase III expansion project, Nantong sewage treatment plant phase I project, Chengkou sewage treatment plant phase III expansion and bid upgrading transformation project, and the water supply assets include the fifth batch of projects in the second phase of old pipe transformation in the main city.
According to the relevant appraisal report, the appraisal value of the underlying assets of this transaction is about 807 million yuan, the appraisal value of liabilities is about 831 million yuan, and the appraisal value of net assets is -24.0413 million yuan. Through negotiation between both parties, the transaction price is determined as -24.0413 million yuan according to the asset appraisal results.
Up to now, Chongqing Water Group Co.Ltd(601158) environment group has directly held 1.849 billion shares of the company, accounting for 38.52%, which is the second largest shareholder of Chongqing Water Group Co.Ltd(601158) ; It is also the controlling shareholder of Chongqing Water Group Co.Ltd(601158) controlling shareholder Chongqing Derun environment Co., Ltd., holding 54.90% equity of Chongqing Derun environment Co., Ltd. The acquisition constitutes a related party transaction of the company and does not constitute a major asset restructuring.
The company said that the related party transaction of the water supply and drainage project is the main business investment of the company, which is in line with the national industrial policy, the company’s development strategic planning and fundamental interests. It can reduce the related party transaction between the company and major shareholders, consolidate the company’s market advantage in Chongqing and improve the company’s sustainable profitability. Meanwhile, the overall risk of this acquisition is controllable, which can ensure the reasonable investment income of the company and will not damage the interests of the company and minority shareholders.
(Securities Times)
