Tou Rong Chang Fu (00850) said it agreed to purchase 48% equity interest in Mega Yield Enterprise Development Limited at Rmb83 million.
The target company holds interests in Jiade Trading Co., Ltd. and Taishan City Zhongyou Xingguang Petroleum Sales Co., Ltd. Jiade Company is principally engaged in the trading of vessel oil products. Taishan Company is principally engaged in the wholesale and storage of oil products and stevedoring services in the PRC. It currently holds a permit for wholesale of refined oil issued by the Ministry of Commerce of the PRC. Taishan Company operates an oil terminal located on the Land at Shadi Port, South Shangchuan Island, Taishan City, Guangdong Province, the PRC.
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