Recently, Mongolia Investment announced the progress of the acquisition of LED business in the Mainland. The board of directors of the company is satisfied with the preliminary results of the due diligence review of the Target Group and other related matters. 40 million yuan (paid as deposit and part of the consideration) was paid to the seller Zhao Yongli on December 12. The completion of the acquisition is subject to the fulfillment of the preconditions set out in the acquisition agreement and the acquisition may or may not proceed.
At the end of last month, the company announced that it will indirectly acquire a 55% stake in Shengqi Optoelectronics at a price of 264 million yuan. The company mainly develops, manufactures and processes LED products in China.
At the end of last month, the company announced that it will indirectly acquire a 55% stake in Shengqi Optoelectronics at a price of 264 million yuan. The company mainly develops, manufactures and processes LED products in China.
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