Meili High Technology and Daewon Kangup sign investment intention proposal
2021-04-06 11:50:29 [Print]
Meili High Technology announced that the company and Daewon Kangup signed an investment intention proposal on April 2, 2021
. The company planned to get 70% of equity of Beijing Daewon Asian Automobile Technology Co . , Ltd . and Jiangsu Daewon Asian Automobile Spring Co . , Ltd . respectively by the way of cash injection and equity purchasing in cash . The injected capital and equity contributions totaled RMB245 million (USD37 . 36 million) . Based on preliminary study and calculation, this deal would be a part of major asset restructuring.