On March 15, Tianjin Guangyu Development Co.Ltd(000537) (hereinafter referred to as ” Tianjin Guangyu Development Co.Ltd(000537) “) issued an announcement on the completion of consideration payment for major asset restructuring transactions.
The announcement shows that Tianjin Guangyu Development Co.Ltd(000537) will buy out all the equity of 23 subsidiaries and put them into 100% equity of Luneng new energy (Group) Co., Ltd. jointly held by Luneng Group Co., Ltd. (hereinafter referred to as “Luneng Group”) and capital Weiye Group Co., Ltd., and the valuation difference will be made up in cash.
According to the effective equity sale agreement and its supplementary agreement signed by Tianjin Guangyu Development Co.Ltd(000537) and the counterparty Luneng Group, Luneng group shall pay Tianjin Guangyu Development Co.Ltd(000537) cash consideration of about RMB 13.231 billion within 60 working days after the relevant underlying equity delivery date. As of March 14, 2022, Luneng Group has paid all cash consideration of about RMB 13.231 billion.
