The consideration for the sale stands at RMB18.1 million ($3.7 million).
Hengyang Petrochemical Logistics’ 51%-owned joint venture, Jiangyin Foreversun Chemical Logistics, and Hengyang’s executive chairman, controlling shareholder and CEO Gu Wenlong has entered into a conditional sale and purchase agreement with Jiangyin Jingang Chemical Co to dispose of Jiangyin Foreversun’s entire equity interest in Jiangsu Xinheng Supply Chain Management Services to an unnamed purchaser.
Jianyin Foreversun’s interest represents 85% of the total equity interest in Jiangsu Xinheng.
