Dow Technology proposes 1.503 billion yuan to actively deploy lithium battery materials industry

[Cable Network News] On April 24, Dow Technology announced that the company intends to acquire the remaining shares of the holding subsidiaries Jiana Energy and Qingdao Haoxin, with a total transaction price of 1.503 billion yuan.

It is understood that Dow Technology has actively deployed the new energy materials industry since 2016, and has invested and controlled Qingdaohaoxin and Cana Energy. In 2017, Dow Technology publicly issued convertible bonds to raise funds for the construction of the "lithium mica comprehensive development and utilization industrialization project", which uses lithium mica as a raw material to produce lithium carbonate. At this point, Dow's technology has formed a more comprehensive industrial chain in the field of lithium battery materials.

In order to further strengthen the control of the two subsidiaries, further optimize the internal resource allocation, and give full play to the synergy of various businesses, and through the consensus of the parties to the transaction, Dow Technology intends to purchase the shares from Yuanyuan Investment and Xinhualian Holdings. A total of 49% of the shares held by Jiana Energy, the transaction price is RMB 1.323 billion; it is proposed to issue shares to Wang Lianchen and Dong Angang, and Xiang Weichen pays cash to purchase 45% of the total shares of Qingdao Haoxin held at a price of RMB 1.8. 100 million yuan.

After the transaction is completed, Garner Energy and Qingdaohaoxin will become wholly-owned subsidiaries of Dow Technology. Dow said the deal was a strategic move to further deepen the distribution of the new energy materials industry.

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