China Development Bank may acquire Stockfly Securities

According to China Knowledge, the Shanghai Securities News reported that China Development Bank, engaged in financing infrastructure development projects, is likely to acquire Stockfly Securities, Co., a securities brokerage company. Both the entities are based in China.

Reportedly, the five shareholders of Stockfly have agreed to sell the entire equity interest of the company for CNY1,150 million ($168.74 million) on the Tianjin Equity Exchange.

The shareholders AVIC Harbin Dongan Engine (Group) Corp., Ltd., Aviation Trust and Investment Co., Ltd., Aviation Industry Corporation of China, Chengdu Aircraft Industry (Group) Company, Ltd. and Jiangxi Hongdu Aviation Industry (Group) Corporation Limited own interests of 70.96%, 12.50%, 11.15%, 3.85% and 1.54% in Stockfly, respectively.

Deal Value (US$ Million) 168.74
Deal Type                Acquisition
Sub-Category             100% Acquisition,100% Acquisition
Deal Status              Rumour: 2009-10-13

Deal Participants

Target 1 (Company)   Stockfly Securities, Co.
Target 2 (Company)   Stockfly Securities, Co.
Acquirer 1 (Company) China Development Bank
Acquirer 2 (Company) China Development Bank
Vendor 1 (Company)   China Aviation Industry Corporation
Vendor 2 (Company)   China Aviation Industry Corporation
Vendor 3 (Company)   Aviation Trust and Investment Co., Ltd.
Vendor 4 (Company)   Aviation Trust and Investment Co., Ltd.
Vendor 5 (Company)   AVIC Harbin Dongan Engine (Group) Corp., Ltd.
Vendor 6 (Company)   AVIC Harbin Dongan Engine (Group) Corp., Ltd.
Vendor 7 (Company)   Chengdu Aircraft Industry (Group) Company, Ltd.
Vendor 8 (Company)   Chengdu Aircraft Industry (Group) Company, Ltd.
Vendor 9 (Company)   Jiangxi Hongdu Aviation Industry (Group) Corporation Limited
Vendor 10 (Company)  Jiangxi Hongdu Aviation Industry (Group) Corporation Limited

Related terms: acquisition, aircraft, aviation, bank, china, equity, investment, securities, shanghai