Qixiang tengdasun company acquires overseas petrochemical bulk commodity traders

Qixiang Tengda announced in the morning on the 17th that its wholly-owned subsidiary Qixiang Tengda supply chain Hong Kong Co., Ltd. and integra Holdings Pte.Ltd. signed the sale and purchase agreement (hereinafter referred to as the "share purchase agreement") to acquire 51% of the equity of granite capital SA held by the seller, with the transaction consideration of 36 million US dollars. According to the announcement, the target company is a petrochemical bulk commodity trader founded in 1989, which has a high position in the trade scale and market share of the market segments of the chemical industry. Among them, butene-1 products rank first in the U.S. market, cracking gasoline ranks first in the Asian market, and propylene ranks first in the European and Asian markets.

The target company has a stable supply channel of raw materials in North America, Middle East and Southeast Asia. It cooperates with shell, BASF, SABIC, ENOC and other international petrochemical giants all the year round, is familiar with international chemical logistics resources, and has a mature trade, operation, logistics, financing and risk control team. This acquisition enables the company to fully enter the field of international chemical supply chain, add the international chemical supply chain segment with the target company as the main platform, further expand the company's business to the upstream raw material field and overseas market, and form coordination and mutual complement with the company's existing business. The target company of this acquisition is an important step in the development of Qixiang Tengda's overseas business, which will establish an important platform for the listed company's overseas development, play a bridgehead role in future overseas M & A, introduction of advanced technology and global financing, and have great strategic significance for the development of the listed company.