SHANGFENG CEMENT's subsidiary plans to sign an equity and debt transfer agreement regarding SHANGFENG ZETH
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SHANGFENG CEMENT announced that its wholly-owned subsidiary, SHANGFENG Building Materials, intends to sign a share and debt transfer agreement with Zhejiang Water Co., Ltd. and other related parties. According to the agreement, SHANGFENG Building Materials will transfer its debt principal and interest of 211 million yuan for SHANGFENG ZETH to Zhejiang Water Co., Ltd. for 90 million yuan, while ZETH International will transfer its 58% equity stake in SHANGFENG ZETH to Zhejiang Water Co., Ltd. for 10,000 som. This move aims to properly address shareholder qualification disputes and asset rights issues
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