First, Yangzijiang Financial Holding and investors Xiamen TCL Industrial Investment Co and China Orient Asset Management Co will set up an investment platform to acquire 223.3 million Shanshan Co shares at RMB 11.44 per share from Shanshan Group and its wholly owned subsidiary, Ningbo Pengze.
Yangzijiang Financial Holding and two other investors are aiming to control 23.36% of Ningbo Shanshan Co, a listed producer of lithium battery anode materials, which is undergoing restructuring.
The investment will be via two phases.
