Gree Plans to Invest RMB 3B to Gain Controlling Interest in DunAn

On November 16, Gree announced that it plans to accept the transfer of 270 million shares from Zhejiang DunAn Artificial Environment, which was held by DunAn Group, with a transfer value of RMB 2.19 billion (about US$ 342.6 million); meanwhile, Gree plans to purchase 139 million non-publicly offered shares to from DunAn Environment, with a value of RMB 810 million (about US$ 126.7 million). It indicated that Gree planned to hold this controlling interest of DunAn Environment at a cost of RMB 3 billion (about US$ 469.4 million). After completion of this deal, Gree will hold 410 million shares of DunAn Environment, accounting for 38.78% of the total shares issued by DunAn Environment.