German chemical conglomerate BASF will acquire a 51% stake in China's Hunan Shanshan Energy (Hunan Shanshan), a Chinese maker of lithium-ion battery materials that serves the battery materials' market, it said on Friday May 21.
Ningbo Shanshan New Energy and Ningbo Yongxiang Investment, subsidiaries of China's Ningbo Shanshan, have signed an equity acquisition agreement with BASF to purchase stakes in Hunan Shanshan.Ningbo Shanshan New Energy will transfer a 5.6192% stake of Hunan Shanshan to BASF with transaction prices of 487.08 million yuan ($75.68 million) and Yongxiang Investment will transfer a 14.0246% stake with transaction prices of...