Retained as counsel by Beijing Rong Da Investment Ltd (“Rong Da”), this firm assisted the company in successful acquisition of Blue Star Petrochemical Technology Ltd (“BlueStar Petrochemical”), this firm issued legal opinion on acquisition of Blue Star Petrochemical held by China National BlueStar (Group) Corporation, assets acquisition through private placement and reform of share structure.
The transaction is structured as follows: BlueStar Petrochemical (000838) purchases all shares held by Rong Da in Beijing Guo Xin Real Property Development Ltd with its chemical business assets and the funds raised through private placement, so that Rong Da can inject its real property assets into Blue Star Petrochemical. As result Blue Star Petrochemical will change company name to Guo Xin Rong Da Real property Development Co. Ltd, and the company will develop real property market in Beijing, Chongqing, Zhengzhou, etc. The stock price of Blue Star Petrochemical, due to the change of core business after this transaction , has soared from RMB8 yuan to over RMB60 yuan.
The first interim shareholders annual conference of 2007 was held on October 6, 2006 in Beijing, and this firm was retained by the listed company as long term legal counsel.
Zhang de-cai and wan Qiu-qin of Beijing office provided complete legal services in whole transaction process.