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Tritech Group Ltd announces acquisition of 49 pct in Zhongshan Public Utility Company Limited's Jining Zhongshan Public Utility Water Company Limited and proposed funding

Monday, 14 Apr 2014 12:06pm EDT 

Tritech Group Ltd:Says on April 10 it entered into MOU with Shandong Jining Water Supply Group Company Limited relating to proposed acquisition of 49 pct equity interest in the share capital of Jining Zhongshan Public Utility Water Company Limited (Target) currently owned by Zhongshan Public Utility Company Limited.Says its cost of investment in the target of about 350 million yuan.Intends to satisfy the purchase consideration through a combination of the convertible loan, loans from financial institutions and/or investments from third parties.Enters into non-binding term sheet with Successive Investments Limited and a group of proposed investors pursuant to which they are contemplating the possibility of grant convertible loan.Says aggregate principal amount of the convertible loan is likely to be about S$42 million.Says proceeds of about S$42 million from the convertible loan shall only be used for financing waste water treatment projects in the PRC and/or the proposed acquisition. 

Company Quote

0.0030 +2.17%
2 Apr 2015