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Mecox Lane Ltd announces investment by Cnshangquan E-Commerce Co., Ltd


Thursday, 30 Jan 2014 05:30am EST 

Mecox Lane Ltd:Says it has been informed that certain existing shareholders of the company entered into a definitive share purchase agreement dated Jan. 29, 2014 with Cnshangquan E-Commerce Co., Ltd. (Cnshangquan).Says pursuant to the agreement Cnshangquan has agreed to purchase 290,564,842 ordinary shares of the company from several existing shareholders, representing about 63.7 pct of the issued and outstanding ordinary shares of the Company, for a total cash consideration of about $39 mln.Says the share purchase and sale transactions are expected to close in the Q2 2014. 

Company Quote

4.1
0.09 +2.24%
28 Aug 2014