logo-loader

Jatenergy's shares surge 20% as its acquisition target seals deal with Chinese e-commerce group

Published: 14:55 15 Mar 2018 AEDT

Picture of tin of milk formula
The 51% acquisition of the baby formula brand requires shareholder approval

Jatenergy Ltd (ASX:JAT) stands to benefit from the proposed establishment of a platform whereby Golden Koala Group can sell its milk products into the Chinese market.

Under such an arrangement, Golden Koala would establish a flagship store on leading Chinese cross-border sales platform, Kaola.com.

Part of internet giant NetEase, Kaola is one of China’s largest and fastest growing cross-border e-commerce platforms.

Jatenergy to acquire 51% of Golden Koala

Jatenergy is in the process of acquiring 51% of Golden Koala.

The market has recognised the benefits of having access to an e-commerce platform in China, with the company’s shares spiking 20%.

The acquisition will only proceed if the necessary resolutions are passed at the general meeting of Jatenergy shareholders to be held on March 27, 2018.

Jatenergy targets FMCG sector

The resolutions are required for Jatenergy to begin operations as a fast-moving consumer goods (FMCG) business.

The acquisition of Golden Koala and the participation in the sales platform are key components of the development of this business.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

4 hours, 2 minutes ago