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I.M. Skaugen SE - IMSK agree to an offer to sell its 50 per cent share in Shenghui Gas and Chemical System Co Ltd, based in ZhangJiaGang in the Jiangsu Province, China.

Nov 03, 2013 - Thomson Reuters ONE

IMS has agreed terms, and signed a binding Equity Transfer Agreement, for the sale of its 50 per cent holding in the Chinese manufacturing company Shenghui Gas and Chemicals Systems Co Ltd (SGCS). The buyer is Liangzhong Investment Co. Ltd, China that is also a major shareholder with 45.41% of its shares. The Buyer will arrange his own financing to secure the purchase.

A RMB 10 mill non-refundable down payment was, as per the agreement, paid into IMS' accounts and the remainder of the pur...