Shulou(Shulou.com)11/24 Report--

CTOnews.com January 3 news, Ziguang Co., Ltd. announced today that Ziguang International Information Technology Co., Ltd. (hereinafter referred to as "Ziguang International"), a wholly owned subsidiary of Ziguang, has completed the acquisition of 51% of the controlling stake of Xinhua 3 Group Co., Ltd. (hereinafter referred to as "Xinhua 3"), and Xinhua 3 has become a controlling subsidiary of the company.

According to reports, Ziguang shares hold 51 per cent of Xinhua through Ziguang International, while Hewlett Packard Enterprise Company holds 48 per cent and 1 per cent of Xinhua through its wholly-owned subsidiaries H3C Holdings Limited and Izar Holding Co, respectively.

Since entering the put option exercise period, the two sides have been negotiating amicably on the issue of put option exercise. After several rounds of communication, HPE entity recently issued a "notice on the exercise of put options" to Ziguang International, and HPE entity will sell its 49 per cent stake in Xinhua to Ziguang International.

Upon completion of the deal, Ziguang International will hold a 100% stake in Xinhua. The main contents of this transaction are as follows: HPE Cayman and Izar Holding Co will sell their 49% stake in Xinhua to Ziguang International, and the sale price per share will be determined in accordance with the shareholders' Agreement on the basis of 15 times the after-tax profit of Xinhua 3 after deducting non-recurring profit and loss in the 12 months before April 30, 2022, divided by the number of all shares of Xinhua 3 on the date of the exercise notice, and the consideration will be paid in cash. Subject to the conditions prescribed by applicable law, HPE entity and Ziguang International will, as far as possible, determine the exercise price and consideration within 30 working days after the receipt of the notice of exercise of the selling period by Ziguang International or within such other period as the parties may agree, and sign the corresponding share purchase agreement.

CTOnews.com learned that Xinhua 3 Group is a domestic network equipment company, founded on May 6, 2016, headquartered in Beijing and Hangzhou.

According to reports, Xinhua San has all-round digital infrastructure capabilities such as chip, computing, storage, network, 5G, security, terminal, etc., providing one-stop digital solutions, including cloud computing, big data, artificial intelligence, industrial Internet, information security, intelligent connection, edge computing, as well as end-to-end technical services. At the same time, Xinhua San is also the exclusive provider of HPE server, storage and technical services in China.

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