Yangzijiang Financial, a Singapore-based investment firm, and partners TCL and China Orient Asset Management plan to acquire a 23.4% effective voting stake in China’s Shanshan Co., pending court and creditor approval.

Shanshan Co., founded in 1992, manufactures lithium battery anode materials and polarizers for the energy storage and display industries.

The consortium will buy about 223 million shares at RMB 11.44 (US$1.58) each, which represents a 9.9% stake in Shanshan Co.

Yangzijiang Financial will invest RMB 1 billion (US$138 million) and hold a 40% interest in the holding platform that will combine the consortium’s shares and voting rights.

Additional shares and voting rights from TCL and China Orient Asset Management will be combined under this platform, with Yangzijiang Financial set to exercise collective voting rights on behalf of the group.

The deal’s completion and final ownership structure are subject to court and creditor approvals, and there is no certainty the transaction will proceed as planned.

🔗 Source: Yangzijiang Financial