OFweek smart home network News reported on July 12, last summer, Letv Ecology announced that it will spend two billion US dollars to buy US television maker Vizio. This transaction caused a miscarriage due to various problems, including the breakage of the capital chain. The agreement includes relevant provisions. If the transaction is not completed due to LeTV's ecological reasons, it needs to pay Vizio a $100 million “break-up feeâ€. Vizio sued LeTV Ecology in a California court and demanded to pay "break-up fees."
According to Vizio, Letv Ecology stated that it plans to establish a joint distribution joint venture company, including paying 40 million US dollars to Vizio in advance, paying 10 million US dollars after the completion of the new transaction, and the remaining 50 million US dollars to invest in the joint venture company. Vizio alleges that LeTV Ecology has never wanted to pay a $100 million "break-up fee" and proposed a new plan to reduce its debt by 60%.
Vizio alleges that the CEO of LeSports Ecology, the Executive Vice President of Finance and a director of LeSports Ecological Holdings, misled Vizio in the financial status of LeSports Eco Holdings (the real attempt to acquire Vizio's entity). The indictment stated that LeTV was misleadingly described by the aforementioned senior executives by phone and e-mail, describing the financial status of Levision Ecological Holdings, saying that LeTV Ecological needed to complete this M&A transaction to “acquire financial stability, credibility and resourcesâ€. .
The indictment stated that Vizio believes that LeEco will "use publicly announced acquisitions with Vizio to acquire or attempt to obtain information from Vizio's large corporate customers."
A few days ago, a Shanghai court froze the couple’s $180 million in assets, the founder and former CEO of LeTV Ecology. Yesterday, Faraday's future, Letv Ecology is a major investor, announced plans to suspend the establishment of a $1 billion factory in the desert of Nevada. There is also news today that Letv Ecology will postpone the payment of wages to some Chinese employees until August 10.
For an efficient firing process, raw materials need to be optimally prepared. Our range of services for the grinding of hard coal and lignite covers the entire spectrum from engineering, production and assembly to commissioning. Using current operating results and continuous further development processes as a basis, we develop customer-specific grinding plants with trend-setting technology. So, give us your lignite!
Mb2100 Beater Wheel,Beater Wheel Type,Beater Wheel Mill Working,Beater Wheels Of Fan Mills
Shenyang Zhicheng Heavy Machinery Manufacturing Co., Ltd. , https://www.zhichengmachinery.com