Shanghai Jiao Yun Group Co., Ltd. agreed to acquire remaining 34% stake in Shanghai Jiaoyun Rihong International Logistics Co., Ltd. from Marubeni Corporation and Marubeni Co., Ltd for approximately CNY 310 million.
July 22, 2021
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Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) agreed to acquire remaining 34% stake in Shanghai Jiaoyun Rihong International Logistics Co., Ltd. from Marubeni Corporation (TSE:8002) and Marubeni (china) Co., Ltd for approximately CNY 310 million on July 22, 2021. Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) will acquire 29% stake from Marubeni Corporation (TSE:8002) for CNY 260.3 million and 5% stake from Marubeni (china) Co., Ltd for CNY 44.8 million. In 2020, Shanghai Jiaoyun Rihong International Logistics Co., Ltd. recorded total assets of On July 22, 2021, Board of Directors of Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) approved the deal.
Shanghai Jiao Yun Group Co Ltd is a China-based company primarily engaged in the provision of road freight and logistics services. The Company operates primarily through four segments. The Road Freight and Logistics Services segment is mainly engaged in multimodal transport, cold chain warehousing, steel logistics, manufacturing logistics and other businesses. The Passenger Car Sales and Automotive After-service segment is mainly engaged in automobile sales, automobile accessories, repairs, maintenance technical consultation and automobile parts retail business. The Automotive Parts Manufacturing and Sales Services segment is mainly engaged in the manufacturing, research and development of key components of automotive powertrains, body and body accessory assemblies. The Other segment is engaged in other businesses. The Company mainly conducts its businesses in the domestic market.
Shanghai Jiao Yun Group Co., Ltd. agreed to acquire remaining 34% stake in Shanghai Jiaoyun Rihong International Logistics Co., Ltd. from Marubeni Corporation and Marubeni Co., Ltd for approximately CNY 310 million.
SHANGHAI JIAO YUN GROUP CO., LTD. 
