GHMC: Asia Foods will become a wholly-owned subsidiary of the company
GHMC announced that the company will acquire 39.9996% equity of Guangzhou Asia Brand Food Technology Co., Ltd. held by Guangzhou Nanye Yingyuan for 90.2804 million yuan, and accept the voting rights entrusted by Guangzhou Eagle Money Food Group amounting to 60.0004%. After the acquisition, GHMC will hold 100% voting rights of Asia Food, making it a subsidiary, which will expand the company's beverage business scale, enhance core competitiveness, and resolve the issue of competition with the controlling shareholder
According to the announcement from Zhitong Finance APP, Hongmian Co., Ltd. (000523.SZ) plans to acquire a 39.9996% equity stake in Guangzhou Asia Brand Food Technology Co., Ltd. (referred to as "Asia Food") held by Guangzhou Nanye Yingyuan Investment Consulting Co., Ltd. (referred to as "Nanye Yingyuan") for a price of RMB 90.2804 million (the above amount has deducted the dividends received by Nanye Yingyuan after the assessment benchmark date).
At the same time, the company accepts the voting rights entrusted by Guangzhou Eagle Money Food Group Co., Ltd. (referred to as "Eagle Money"), which irrevocably authorizes the company as the sole and exclusive trustee of its 60.0004% equity stake in Asia Food. During the entrusted period specified in the agreement, the company will fully exercise shareholder voting rights and other statutory rights in accordance with relevant laws and regulations and the company's articles of association.
After the acquisition is completed, the company's equity stake in Asia Food will be 39.9996%, and with the acceptance of the 60.0004% voting rights entrusted, the company's voting rights in Asia Food will be 100%, making Asia Food a subsidiary controlled by the company.
The announcement stated that this acquisition of Asia Food's equity is beneficial for further expanding the company's beverage sector business scale, enhancing the company's core competitiveness, and regulating the issue of competition with the controlling shareholder Light Industry Group in certain businesses
