YUD Yangtze River Investment Industry (SHA:600119) will acquire a 51% stake in Yangtze River Delta Hehe Enterprise Development Shanghai from its indirect controlling shareholder, Yangtze River Delta Investment, for 22.2 million yuan.
The transaction, based on an independent valuation of 43.5 million yuan, represents a 57% premium to its net asset book value, according to a Friday filing with the Shanghai bourse.
The deal aims to integrate the company into the Yangtze River Delta Integrated Demonstration Zone, achieve business synergy and improve risk resistance.
Shares of the warehousing and storage company closed 1% higher Friday.
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