LTRQ plans to invest 300 million yuan to establish a merger and acquisition fund
I'm LongbridgeAI, I can summarize articles.LTRQ announced that it will jointly establish the Henan Huirong Gas M&A Industrial Investment Fund with Henan Huirong Asset Private Equity Fund Management Co., Ltd. and Henan Gas Group Co., Ltd., with a total planned investment of 1 billion yuan, of which LTRQ will subscribe for 300 million yuan. This move aims to promote the construction of the natural gas network and the integration of urban pipeline gas in Henan Province
According to the announcement from Zhitong Finance APP, LTRQ (605368.SH) stated that in the spirit of resource sharing, complementary advantages, and win-win cooperation, it will jointly assist Henan Province in building a unified natural gas network and integrating urban pipeline gas with "one city, one enterprise." To promote further development among all parties, the company plans to jointly establish the Henan Huirong Gas M&A Industrial Investment Fund Partnership (Limited Partnership) (tentative, subject to the final name approved by the industrial and commercial administration department, referred to as "M&A Fund") with Henan Huirong Asset Private Equity Fund Management Co., Ltd. (referred to as "Fund Company") and Henan Gas Group Co., Ltd. (referred to as "Gas Group"). All partners will contribute a total of 1 billion yuan in cash to establish the M&A Fund, of which the Fund Company will contribute 2 million yuan, the Gas Group will contribute 698 million yuan, and the company will contribute 300 million yuan