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C&G Environmental Protection Holdings Ltd announces proposed sale of the waste-to-energy business and assets and principal operating subsidiaries


Monday, 23 Dec 2013 11:38am EST 

C&G Environmental Protection Holdings Ltd:Says on Oct. 23, it had entered into a letter of intent with a potential buyer in respect of a proposed sale of the Group’s waste-to-energy business and assets and the principal operating subsidiaries of the company in the People’s Republic of China (PRC WTE Business and Assets).Says on Dec. 24, the potential buyer is Grandblue Environment Co. Ltd (formerly known as Nanhai Development Co. Ltd)) (the Purchaser), a company listed on the Shanghai Stock Exchange (SSE) in the People’s Republic of China (PRC).Says on it had, through its subsidiary, C&G Environmental Protection (Hong Kong) Company Limited (C&G (HK)) on Dec. 23, entered into a framework acquisition agreement with the purchaser.Says pursuant thereto, the purchaser and C&G (HK) had agreed to the broad framework governing the proposed sale of the entire shareholdings in C&G Environmental Protection (China) Company Limited) (C&G (China)), a subsidiary of C&G (HK) to the Purchaser (the Proposed Sale). 

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