April 27, 2010, Zhejiang Dunan Artificial Environmental Equipment Co., Ltd. (Dunan Environment), a Shenzhen-based listed company (002011.SZ), acquired 57% stake in Taiyuan Juneng Regeneration Energy Heating Co., Ltd. (Taiyuan Juneng). In addition, Dunan Environment will subscribe for a capital increase of Taiyuan Juneng together with Taiyuan Juneng’s other shareholders, in proportion to their respective equity ratios in Taiyuan Juneng after the acquisition.
Dunan Environment is a leading enterprise in the refrigeration parts industry and is also the biggest production base of stop valves in the world. This acquisition is envisioned to give Dunan Environment a competitive advantage in the sewage-source heat pump market.
Jingtian & Gongcheng acted for Dunan Environment in the transaction.