Societe Generale 850 million to acquire 51% stake in China Trust

NetEase Finance February 9, Societe Generale Bank announced today evening, will be 852 million yuan to buy the international trust 51.18% shares. This part of the stake is currently held by the New Hope Group, southern Sichuan Hope industry and investment in Fujian China.　　At this point, SocGen became the bank of the third Holding Trust company after the bank and CCB.　　China International Trust was established in March 2003, the former main shareholder is Fujian Investment Co., Ltd., Southern Sichuan Hope Industrial Co., Ltd., National Bank of Australia and New Hope Group Co., Ltd. As of December 31, 2009, the total amount of the joint-China Trust assets of 776 million yuan, the total liabilities of 39.16 million yuan, net assets of 736 million yuan.　　2009 achieved net profit of 38.24 million yuan. According to the agreement on the transfer of shares, Societe Generale is the 2.55 times times the benchmark of net assets per share at the end of 2008, and is subject to 51.18% per cent of the above. As the above-mentioned "equity transfer agreement" expired in December 2010, the parties agreed and signed the supplementary Agreement, and accordingly extended the validity period of the agreement on equity transfer. Upon the completion of the transaction, Societe Generale will become a shareholder of the Joint China Trust.