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Country Garden Services intends to acquire Blu-ray Garbo, involving approximately 5.8 billion yuan

2021-02-25T14:13:23.339Z

Country Garden Service (6098) intends to take over Blu-ray Garbo (2606). Blu-ray Garbo issued an announcement stating that Country Garden Services had entered into a memorandum of understanding with Blu-ray Garbo’s controlling shareholder Blu-ray Hejun on February 23.



Financial News

Written by: Zhang Weilun

2021-02-25 21:39

The last update date: 2021-02-25 21:58

Country Garden Service (6098) intends to take over Blu-ray Garbo (2606).

Blu-ray Garbo issued an announcement stating that Country Garden Services had entered into a memorandum of understanding with Blu-ray Garbo’s controlling shareholder, Blu-ray Hejun, on February 23. It intends to purchase RMB 115 million held by the other party at RMB 42.1105 (approximately RMB 50.59) per share. Shares of Blu-ray Jiabao shares, accounting for 64.62% of the company’s issued shares.

The price is 38.95 yuan compared with the stock price of Blu-ray Garbo before the suspension of trading, a premium of 30%, which means that the transaction involves 5.82 billion yuan.

Blu-ray Jiabao also pointed out that for this possible transaction, Country Garden Services may trigger a comprehensive takeover offer obligation under the Takeover Code under the Takeover Code, and the price shall be no less than RMB 42.1105.

Based on the total issuance of 178 million shares of Blu-ray Garbo, the total value of the company is 9 billion yuan based on the above bid.

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Country Garden Service Enterprise M&A

Source: hk1

All news articles on 2021-02-25

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