October 21, 2011 - Shanghai, China - Liaoyuan Deheng Co., Ltd. (“ST Deheng”) material capital reorganization and plan of purchase of assets by issuing shares to certain objects was passed and approved at the 32nd meeting of the M&A and Reorganization Committee of the China Securities Regulatory Commission (“CSRC”) on October 19, 2011.

Ningbo Joyson Holding Co., Ltd. (“Joyson Group”) has acquired 21.83% of equities from ST Deheng through the bankrupt process of the latter, which makes it the largest shareholder of ST Deheng. The actual content of this material capital reorganization and additional share issuance plan is that ST Deheng will issue shares to Joyson Group together with other joint stakeholders for the purchase of automobile parts. After the completion of the reorganization, Joyson Group and other joint stakeholders will jointly hold 62.97% of equities in ST Deheng, and ST Deheng will be re-listed as a public company engaging primarily in research, development, production and sale of automobile parts.

Grandall Shanghai Office has been retained as the Acquirer's Counsel, acting for Joyson Group. The project is led by Mr. SUN Li and Mr. TANG Yinfeng, attorneys of Grandall. 

Click here to find out more: Liaoyuan Deheng Co., Ltd. (ST)