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Acquisition of 49% Equity Interests in Italy Water Gen Power Company

作者:发布日期:2016/11/22 3:11:50关注:1674

On 4 November 2016, Chongqing Machinery & Electrics Co. Ltd. (CQME) entered into an agreement for sale and purchase of shares and capital injection (the “SPA”) with Mr. Mario Bianchi, the sole shareholder of ITALY WATER GEN POWER COMPANY (WGP). Pursuant to the SPA, Mr. Mario Bianchi agreed to sell and the Company agreed to acquire 35% equity interests in the WGP Company, and the Company shall further acquire 14% equity interests of the WGP Company through capital injection. The total consideration of the transactions shall be approximately Euro 720,000. Upon completion of the transactions contemplated under the SPA, the Company shall hold 49% equity interests in the WGP Company.
This acquisition will promote the active expansion of CQME subsidiaries into the international hydroelectric market and stabilize overseas channels; create a marketing platform in Europe for CQME by seizing the opportunity of this acquisition; and bring feasible economic benefits through the investment in the WGP Company.

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