Sinofert Holdings Co., Ltd. announced on the 9th that its wholly-owned subsidiary, Sinochem Fertilizer, acquired 100% equity interest in Xantian Longjing.
On January 8, Sinochem Fertilizer signed a share transfer contract with Longquan Group and Tibet Longsheng to acquire 100% of the equity interest in Xantian Longquan for a total consideration of RMB 1.38 billion. Among them, 138 million yuan will be paid to the Dragonfly Group, and 1.242 billion yuan will be paid to Tibet Longsheng.
Xundian Dragonfly is principally engaged in the mining and exploration of phosphate rock and the production of feed-grade monocalcium phosphate and calcium dihydrogen phosphate. Currently, it directly or indirectly owns the mining rights of a phosphate rock located in Yunnan Province, China, and the prospecting rights of four phosphate rocks located in Yunnan Province. Xindian Longxun is applying for a mining right certificate for its four phosphate blocks that only possess prospecting rights. In addition, Xundian Dragonfly is currently the only company in the country that can produce 300,000 tons of feed-grade phosphoric acid mono-calcium phosphate and calcium dihydrogen phosphate that meet international standards. Xundian Dragonfly has now completed the FAMI-QS (Federal Feed Additives and Premix Quality System) certification and the U.S. Food and Drug Administration (FDA) certification.
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