Baling Technology intends to acquire 20-30% of equity of Yuliang Battery
2018-05-22 17:51:52 [Print]
On May 18th, Baling Technology announced that, based on the judgment of the good market prospect of Suzhou Yuliang Battery Co., Ltd. and the needs of the company's strategic development, Nanning Baling Technology Co., Ltd. (hereinafter referred to as "the company") signed "Equity Transfer Letter of Intent"(hereinafter referred to as "the letter of intent") with Suzhou Yuliang Battery Co., Ltd.'s controlling shareholder Shanghai Kailong Investment Management Co., Ltd. (hereinafter referred to as "Kailong Investment") on 16 May 2018. A preliminary cooperation intention was formed after friendly consultations between the two sides. The company intends to accept 20%-30% of the equity of Yuliang Battery held by Kailong Investment, and the overall valuation of Yuliang Battery is RMB2.8-3.5 billion. After completing the due diligence, the two sides will negotiate specific transaction terms and sign a formal equity transfer agreement.
It is reported that Yuliang Battery is a legally registered limited company in China. It is a solution provider of ternary power battery system, and focuses on the R & D, production, and sales of ternary power lithium battery electric core, module, and battery system. It provides a safe, reliable, efficient, durable and competitive ternary power battery system solution for the global customers.
It is reported that Yuliang Battery is a legally registered limited company in China. It is a solution provider of ternary power battery system, and focuses on the R & D, production, and sales of ternary power lithium battery electric core, module, and battery system. It provides a safe, reliable, efficient, durable and competitive ternary power battery system solution for the global customers.
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