Suli Co., Ltd. to acquire 6% stakes in Suli Chemical, Bailly Chemical

Date:12-07-2020

Chinese agrochemical company Suli Co., Ltd. announced its plan to acquire 6% stakes in both Jiangyin Suli Chemical and Taizhou Bailly Chemical held by Oxon Asia S.R.L., using cash worth Yuan55.49547 million and Yuan69.57951 million, respectively, totaling Yuan125 million. After the share acquisitions, Suli Co., Ltd will hold 76% of the stakes in Suli Chemical and Bailly Chemical, which will still be both controlled subsidiaries of Suli Co., Ltd.

Suli Chemical and Bailly Chemical are important subsidiaries controlled by Suli Co., Ltd. After the share acquisition, Suli Co., Ltd. will strengthen its control of Suli Chemical and Bailly Chemical, to increase the overall operational efficiency of its businesses.