Jiaduobao was retired, COFCO Packaging reinvested all of its investment and dividends

Jiaduobao was “retired”, COFCO Packaging reinvested all of its investment and dividends
On the evening of April 28th, COFCO Packaging, a port company listed in COFCO, announced that it had reached a repurchase agreement with Jiaduobao on the same day to properly resolve the dispute.Through the implementation of the repurchase agreement, COFCO Packaging will resume all the investment income and promised dividends made in Qingyuan Jiaduobao Herbs.The dispute, which lasted for nearly three years, finally came to an end.In the military, COFCO Packaging increased its investment in Jiaduobao, and later filed an arbitration application with the Hong Kong International Arbitration Center against Jiaduobao due to disputes.Later, Duobaobao actively handled it and paid 2 to COFCO Packaging.500 billion sincerity gold.Jiaduobao had breached the contract. On October 31, 2017, COFCO Packaging announced that it would add $ 2 billion to Qingyuan Jiaduobao Herb Technology Co., Ltd. and hold 30 yuan.58% of the shares.According to the capital increase agreement of COFCO Packaging Investment Co., Ltd., affiliated to COFCO Packaging, Wang Laoji Company (Jadobao Trademark Holding Company), Qingyuan Jiadobao Herbal Medicine and its existing shareholders, Jiadobao Trademark Holding CompanyBao injected related Jiaduobao trademarks at a price of 3 billion yuan, accounting for 45 of Qingyuan Jiaduobao.87% of the shares; Qingyuan Jiaduobao’s original shareholder Zhishou Co., Ltd. accounted for 23 of Qingyuan Jiaduobao.55% of the shares.On July 6, 2018, COFCO Packaging announced that Wang Laoji Company has not yet agreed to inject the Jiaduobao trademark into Qingyuan Jiaduobao Herbs as an in-kind investment in accordance with the capital increase agreement. COFCO Packaging Investment has made a contribution to Hong Kong on July 6, 2018The International Arbitration Center filed an arbitration application with Hong Kong Wanglaoji Company, Zhishou Company and Qingyuan Jiaduobao Herbs on related matters.On November 15, 2019, COFCO Packaging issued an announcement saying that the company received the “Partial Arbitration Judgment” issued by the Hong Kong International Arbitration Center on October 31, 2019, confirming that Kaduobao registered in Hong Kong’s Wang Laoji Company (Jadobao)) Trademark holding company) Application for termination of capital increase agreement is invalid, Wang Laoji Company needs to compensate COFCO about 2.30,000 yuan, and pay interest of about 773.480,000 yuan.In this announcement, COFCO Packaging stated that after receiving the above ruling, Jiaduobao Group actively negotiated with COFCO Packaging and paid RMB 2.500 million sincerity gold to COFCO Packaging.COFCO Packaging, which paid US $ 1.5 billion for repurchase, weighed, and reached a repurchase agreement with Jiaduobao on April 28, 2020.COFCO Packaging will recover all investment income and promised dividends made in Qingyuan Jiaduobao Herbs in order to enhance the company’s cash flow and optimize asset allocation, focusing on the main business of consumer packaging.Pursuant to the repurchase agreement, Jiaduobao (Tianjin) repurchased COFCO Investment in the 30% held by Qingyuan Jiaduobao Herbs.58% equity.The repurchase amount is RMB 15 ppm, of which the deposit is 2.US $ 500 million, replaced by the amount previously paid by Jiaduobao Group to COFCO Packaging.The first phase of the repurchase of US $ 500 million will be paid to COFCO Packaging Investment by Jiaduobao (Tianjin) within 10 to 40 working days after the date of the repurchase agreement by bank transfer.The second repurchase consideration 7.USD 5.5 billion will be paid to COFCO Packaging Investment by bank transfer on or before July 31, 2020.In addition, Jiaduobao also needs to pay for the promised dividends, and Qingyuan Jiaduobao Herbs will gradually respond to the promised dividends of COFCO packaging investment by about 2 in accordance with the capital increase agreement.3.8 billion yuan, to be paid in seven installments, the deadline is until the end of 2021.Despite the failure of the marriage, COFCO Packaging and Jiaduobao continued to maintain a strategic cooperative relationship.According to the agreement, COFCO Packaging Investment and Jiaduobao Group will further strengthen strategic cooperation, coordinate new product development, ensure supply security, and support the development of Jiaduobao Group.The parties unanimously agreed that within 5 years from the date of signing the repurchase agreement, based on the determined base price and the final price determined after taking into account the impact of domestic aluminum price fluctuations from time to time, priority is given to purchasing aluminum beverage cans from COFCO Packaging Investment and its related parties, And pay the purchase price of beverage cans on schedule according to the agreement between the two parties.Sauna, Ye Wang Wang Ziyang editor Zhu Fenglan proofreading Wang Xin