Has anyone done DD on Shanxi Jiatong Chemicals, who owns Haujie Petroleum according to LPH PRs? Baidu searches only give hits for the Letter of Intent signed by both LPH and the owners. There should be more out there on the parent of the seller if they are large enough to be building $105M facilities and then turn around and sell them to a third party. Perhaps someone with Chinese language skills can look a little deeper as a lot hinges on whether this acquisition goes down and is legit without any hidden related party issues. Thx.
"I'm still wondering if Cai tried to sell 2/3rds of LPH to SUNPEC under the name of "Taiyuan City Cheng Cheng Petroleum" last September. Didn't LPH say there were only three licensed intermediaries in Taiyuan? Funny no mention of Cheng Cheng (if they are one of two LPH competitors and not LPH itself) exists on the internet. The most secretive business on earth: oil distribution in Taiyuan."
Very interesting post from Morepaveway above. Essentially, LPH supposedly doesn't have big competitors, yet someone tried to sell 2/3 of another local oil wholesaler in Taiyuan which happens to have distribution centers in Guajio and Taiyuan.
At this point I'm really hoping to see more due diligence on the seller to prove that there are no third party relationships between the seller and LPH outside of the transaction itself.