Sichuan Development Lomon acquires Tianbao Animal Nutrition stake

Sichuan Development Lomon (SZSE:002312) announced its wholly-owned subsidiary, Nangzhang Lomon, will acquire a 60% stake in Tianbao Animal Nutrition Technology, a leading domestic calcium phosphate feed additive company. The acquisition price is 432 million yuan. Post-transaction, Tianbao will become a consolidated subsidiary of Sichuan Development Lomon. Sichuan Development Lomon aims to enhance its market competitiveness in the calcium phosphate feed additive sector and is optimistic about the synergy between Tianbao's operations and its own. The deal is subject to regulatory approvals and customary closing conditions. The board has already approved the deal.