On July 23, China Life Insurance announced that the matter of increasing Wanda’s information was “yellow”!
Retrospective of China Life’s investment in Wanda Information, with the intervention of bail-out funds, and then increase the holdings through block trades, and finally signed a share transfer agreement with major shareholders, which is the largest for Wanda Information. The "seat" of shareholders can be said to be a must.
However, the day is not awkward, and everything stops.
What caused the current reversal? The Shanghai Securities Journal will inquire for you.
Wanda Information announced today that the company received the company's controlling shareholder Shanghai Marriott Investment Co., Ltd. (hereinafter referred to as Marriott Investment) and the actual controller Shi Yibing on July 23 (with the investment of Marriott and the “transfer party” Notice), the transferor has received the consent of China Life Insurance Co., Ltd. (hereinafter referred to as China Life Insurance) on July 23 to agree to the lifting of "China Life Insurance Co., Ltd. and Shanghai Marriott Investment Co., Ltd., Shi Yibing" Written reply from the Share Transfer Agreement of Wanda Information Co., Ltd. (hereinafter referred to as the “Share Transfer Agreement”), the “Share Transfer Agreement” has been lifted since July 23, 2019, and has not been effective since the beginning.
It is reported that this "share transfer agreement" was signed on June 23 by Marriott Investment, the actual controller of Yibing and China Life, and agreed to invest in China Life Insurance. The price agreement of 14.44 yuan transferred 55,000,000 shares of the company's non-restricted circulation shares (hereinafter referred to as the share transfer), the total price was 794.2 million yuan, accounting for 5.0142% of the company's total share capital. Upon the entry into force of this agreement, China Life and its concerted parties will hold approximately 15% of Wanda Information Shares and become the largest shareholder of Wanda Information.
Therefore, the lifting of the "share transfer agreement" means that China Life failed to become the largest shareholder of Wanda Information.
According to the announcement, after the transfer agreement was terminated, China Life held 9.98% of Wanda Information and was the second largest shareholder of Wanda Information.
One party is a domestic life insurance leading company, and one party is a leading smart city and medical insurance technology supplier in China. The entry of China Life Insurance into Wanda Information has made the market full of expectations.
First look at the ChineseMarriage between Shou and Wanda Information:
December 27, 2018
Wanda Information released a statement saying that China Life Assets-Phoenix special products purchased 55 million shares of Wanda Information through agreement transfer. (accounting for 5% of the total share capital of a listed company). As a result, China Life became the third largest shareholder of Wanda Information.
January 10, 2019
The above transaction completed the transfer registration.
March, April, April, April
China Life Insurance Co., Ltd. used the asset management products of China Life Insurance to increase the holding of Wanda Information by the Shenzhen Stock Exchange for a total of about 4.9851%. China Life Group has increased its holding of Wanda Information through its designated fund company-specific customer asset management products.
On the evening of June 16, 2019
Wanda Information released a notice stating that the company's controlling shareholder, Marriott Investment, is planning an equity transfer, intending to introduce a strategic investor in a state-owned enterprise in the financial and insurance industry. And transfer the 5% company shares to the strategic investor or its designated entity by way of agreement transfer, and the transferee will become the company's largest shareholder through this transaction.
June 23, 2019
China Life and Marriott Investment signed the "Share Transfer Agreement", which was transferred to Wanda Information directly held by Marriott Investments at a price of 14.44 yuan per share. There are 55 million shares in circulation, with a total price of 794.2 million yuan, accounting for 5.0142% of the total share capital of Wanda Information. After the completion of this transfer, China Life will become the largest shareholder of Wanda Information.
July 23, 2019
Wanda Information released a notice saying that the company received the cancellation of "China Life Insurance Co., Ltd. and Shanghai Marriott Investment Co., Ltd., Shi Yibing on Wanda Information Co., Ltd. The notice of the company's share transfer agreement, the "share transfer agreement" has been lifted since July 23, 2019, and will not be effective from the beginning.
Seeing the transfer of equity in Chengdu, why is it yellow?
China Life Insurance stated in the announcement that as of July 23, the agreement could not be effective because the counterparty (the investment and actual controller of the company) could not reach the effective terms of the “share transfer agreement”. The counterparty applied to cancel the agreement and was carefully studiedChina Life agreed to terminate the Share Transfer Agreement.
Obviously, the unrealized entry clause is the key to causing abortion of equity transfer.
The Shanghai Stock Exchange learned from relevant insiders that several conditions are required for the transfer agreement to take effect. The most important thing is that Marriott Investment obtained the necessary creditors and security rights holders’ consent for the share transfer, and the necessary bonds Someone passed. Regrettably, as of July 23, Marriott's investment did not lead to the above conditions, so the transfer agreement could not take effect.
China Life does not rule out the continued increase in Wanda Information
equity transfer "yellow", and did not affect China Life's optimistic about Wanda information.
China Life said that the strategic cooperation between the two parties is based on the huge synergy between the two parties' business. The lifting of the share transfer agreement will not affect the long-term business strategic relationship between China Life and Wanda Information.
The "Strategic Cooperation Framework Agreement" signed by China Life and Wanda Information will continue to be effective. The two sides will further consolidate and deepen the long-term, stable, mutually beneficial and win-win comprehensive strategic partnership, through multiple levels, Multi-dimensional management cooperation and management interaction, continuously exerting complementary advantages, strengthening the synergistic development effect, jointly promoting the development of technology and basic technology in the medical security field, continuously improving the service capabilities in the medical insurance field, professional management service capabilities of commercial insurance, health management and service capabilities. We will strive to achieve a win-win strategic goal of complementary advantages, resource sharing and common development.
The head of China Life-related business said that it includes two aspects of cooperation: First, in terms of medical insurance technology, China Life uses Wanda Information as an important platform for expansion. For example, in the context of “three medical linkages”, both parties can There is better cooperation to improve the linkage between commercial insurance and medical insurance; on the other hand, it is to form a new strategic commanding height for China Life, and based on the protection of consumer privacy, use the accumulated data to develop health insurance that is more suitable for consumers' needs. product.
It is worth noting that China Life has clearly stated that based on the stable strategic cooperation prospects of both parties, China Life will not rule out the increase of Wanda Information shares through other means, such as through secondary market increase or other minority shareholders. Transfer.