Hainan Rubber Acquires R1 International with $76.71 Million

Hainan Rubber Acquires R1 International with $76.71 Million

On October 21, China Hainan Rubber Industry Group (abbr. Hainan Rubber) announced that it planned to pay $77.71 million (about RMB 530 million) in cash to purchase 71.58% of R1 international’s stock equity.

Before the acquisition, Hainan Rubber Group (Singapore) Development, a wholly-owned subsidiary of Hainan Rubber, holds 15% of R1 international’s stock equity. After the completion of this transaction, R1 international will become a subsidiary of Hainan Rubber, and Hainan rubber will hold 86.58%.

R1 international is one of the international NR traders, which has established procurement, production and sales channels in the rubber trading and processing business sector. In 2017, the NR trading volume was more than 660kt.

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