Shanghai Huafon Aluminium (SHA:601702) agreed to reduce the transaction price of its acquisition of Shanghai Huafeng Puen Polyurethane to 88.5 million yuan from 100.1 million yuan, according to a Shanghai bourse filing on Wednesday.
The supplemental agreement for the acquisition was signed with Huafeng Group, the Chinese producer of polyurethane insulation materials said.
The price was deducted from property that Huafeng Puen was not able to completely acquire as their property ownership certificates were not obtained.
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