Sanlu Bankruptcy: Three Fund-raising 800 Million Involved In Sanlu Auction – Triple, Sanlu – The

Category : Day Trading

Three more days

brewing regarding the acquisition of Sanlu, now finally taken substantive steps.

It is understood, was declared bankrupt after the Sanlu Group, Hebei Province, yesterday came news of the three auction companies, Sanlu first batch of the estate will be auctioned on March 4.

Bidding eligibility restrictions

For the ternary "hardening" to pave the way?

According to Xinhua, the three auction companies in Hebei Province issued a notice yesterday, by the Shijiazhuang Sanlu Group Co., Ltd. commissioned manager, scheduled for March 4 in Shijiazhuang Intermediate People's Sanlu Group, the joint public auction part of the property .

The three companies are Hebei Chiayi Auction Co., Ltd., Hebei Oriental Auction Co., Ltd. Hebei Province, headquarters auction.

Public auction of Sanlu Group has four main parts of the property. First, the land use right Sanlu Group, houses, buildings, machinery and equipment and effective sustainable management of assets; second is held by Sanlu Group Co., Ltd Xinxiang City, Lin He Dairy 98.80% of the investment interest; Third, Sanlu Tangshan Sanlu Dairy Group Co., Ltd. held 70% of the investment interest; 4 is held in Shijiazhuang Sanlu Group dairy Co., Ltd. Le Bao Jun 16.97% of investment interest.

Together, mainly some of Sanlu Group's core assets, and Sanlu stake in the three joint venture companies. Sanlu into bankruptcy proceedings, some of product quality and safety of the joint stock company Sanlu, have renamed the complex production, which is typical of Le Bao Jun.

It is understood that the subject of auction to implement the overall group package auction.

According to report, notices of auction sale of assets but also of the bidder or its affiliates control relationship exists where limits. These include: more than 10 years of liquid milk, milk powder production experience, the last fiscal year from liquid milk, milk powder business income should be not less than 10 million registered capital of not less than 500 million yuan; market reputation, quality control system improvement and effective implementation, because of the melamine incident and did not hurt so in infants.

Control bidding requirements, there are industry analysis, triple last chance of winning great. Because of the melamine incident, the domestic group of dairy giant suffered heavy losses, has missed the Sanlu asset auction.

Three financing 800 000 000

Involved in Sanlu auction

13, Beijing Sanyuan Food Co., Ltd. (600 429 hereinafter referred to as "triple Shares") released more than announcement, said the board has agreed to triple shares of a wholly owned subsidiary?? Hebei Three groups form a coalition with the ternary Auction body, not to exceed 110% of the total assessed value of the estate Sanlu participating in the bidding package.

Funds to finance the bid, ternary non-public offering of shares to be taken by way of 4 yuan per share price of the actual controller of the company and the largest shareholder of Beijing Sanyuan Group Enterprises (Food) Limited ("Northern Enterprises food ") issued from 200 million to 250 million shares, raising the total amount from 800 million to 1 billion yuan. All funds raised used to be a wholly owned subsidiary of Hebei capital increase triple by triple Hebei Sanlu Group for the bid part of the estate and subsequent integration, operations, and the gap through bank borrowings from the Hebei Three other means.

Commissioned under the previous manager of Sanlu Group, the auction sale notice issued by organizations, the Sanlu Group Three involved the estate auction includes: 1, Sanlu Group, the land use right, housing buildings, machinery and equipment and other sustainable effective asset management; 2, held Sanlu Dairy Co., Ltd Xinxiang City Linhe 98.80% of the investment interest; 3, Sanlu Group, Tangshan Sanlu Dairy Co., Ltd. held 70% of the investment interest; IV Shijiazhuang Sanlu Group, held in Le Bao Jun Dairy Co., Ltd. 16.97% of investment interest. It is reported that the subject of auction to implement the overall group package auction, the total valuation of about 726 million yuan. Three shares

13 notice also announced the resumption of trading, ending a nearly 6-month suspension period. Notice that, given the company's board of directors has agreed to participate in bidding Sanlu bankruptcy assets, the company shares will be February 16, 2009 for restoration. September 25, 2008, triple suspension notice issued shares. Day, triple share, shares closed at 5.59 yuan.

For ternary so "generous" if aspirations for Wang Qian did not too much to comment, saying: "Since we went to, definitely want to auction a success."

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