Sinochem to Hold Controlling Share in Luxi Group
Click:249    DateTime:Jan.24,2020


On December 20, 2019, Sinochem Investment (Liaocheng) (hereinafter referred to as “Sinochem Liaocheng”), the wholly-owned subsidiary of Sinochem Investment Development Co., Ltd. (hereinafter referred to as “Sinochem Investment”) signed equity transfer agreement with Liaocheng Municipal State-Owned Assets Supervision and Administration Commission. According to the agreement, Liaocheng Municipal State-Owned Assets Supervision and Administration Commission will conduct gratis transfer of its 6.01% stakes in Luxi Group to Sinochem Liaocheng. The agreement will take effect after regulatory approval. 

   To this end, Sinochem Group will become the largest shareholder of Luxi Group and the actual controller of its listed company Luxi Chemical.