Rainbow Agrees to Acquire Stake in Ningxia Grenada
19 May 2015 Rainbow Chemical acquired a 73% stake of Ningxia Grenada which was held by Biok. Following the deal, Rainbow will increase its equity ratio in Ningxia Grenada through a capital increase.
The deal furthers Rainbows commitment to international market development, and the company will benefit from the innovative global rapid market access platform construction and transformation of the brand strategy.
Rainbow’s rapid growth in international market brings increased production demands, this equity transaction will enrich the portfolio of Rainbow, make the strategic layout of production base more reasonable, and to do sufficient strategic reserves for the development in the future 5-10 years, as well as to provide a more solid foundation and support for the market development .
Read more about the deal here.
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