Royal Group announced that the share transfer agreement between controlling shareholder Huang Jiadi and Beijing Shengxiang has been terminated due to unmet transaction conditions. Meanwhile, Huang Jiadi signed a new agreement with Shenzhen Jiadao to transfer 48,279,430 shares at 3.5 yuan per share, representing 5.80% of the company's total share capital, for a total consideration of 169 million yuan. This transfer will not result in a change of control and aims to leverage Shenzhen Jiadao's channel advantages to strengthen the core dairy business. Shenzhen Jiadao has committed not to reduce its holdings within 18 months.
Royal Group Co LtdNew investor Shenzhen Jiadao commits to 18-month lock-up and will leverage channel advantages to strengthen core dairy business.