Juhua Group and Sinochem Singed LOI for Fluorochemicals Business

摘要

On November 28th,Sinochem Corporation and Juhua Group Corporation,both are leading fluorochemicals players in China,signed a Letter of Intent(LOI)for strengthening their strategic cooperation.Under the LOI,Sinochem will acquire a 51% equity in Juhua Group Corp.,through inputting a cash of exceeding RMB1.6 billion.Before this equity change,Juhua Group Corp.,the majority shareholder of Zhejiang Juhua Co.,Ltd.(Juhua,SH:600160),is a wholly state-owned company controlled by Zhejiang provincial government.