On December 2, 2020, Xiamen ITG Group Co.,Ltd. (hereinafter referred to as "ITG")'s issuance of shares to purchase ship assets was unconditionally approved by China Securities Regulatory Commission's Mergers and Acquisitions Review Committee.
ITG is the top 50 public company in China and a key member of ITG Holding Group Co., Ltd, which ranks among Fortune Global Top 500. Recently, ITG has given top priority to promoting integrated operation of supply chain, deeply involved in establishing the resource supply, production and operation, physical distribution and sales channels system for its core customers.
In this transaction amounting RMB 583,374,900, ITG issued new shares as consideration to purchase 100% shares of the target company, whose core assets are three Panamax dry bulk carriers with a capacity of 82,000 tons. This transaction will help ITG to improve its own ships' quality and international shipping management capabilities, strategically upgrade its logistics platform, enhance its core competitiveness of supply chain management.
Llinks assisted as ITG's legal counsel, providing legal services including scheme demonstration, due diligence, transaction file drafting and providing legal opinion.
