Kingdomway’s subsidiary to acquire healthy energy product operator Zipfizz
date：2018-06-11
browse：（1100）
Keyword： Kingdomway acquire healthy energy product operator Zipfizz
On May 17, Kingdomway (002626) announced that the company’s wholly-owned U.S. subsidiary, KUC Holding (hereinafter referred to as “KUC”) plans to purchase 100 percent of the shares (Total common stocks of 121,300 shares) of Zipfjzz Corporation (hereinafter referred to as “Zipfizz”). The valuation is US$80 million (approximately 509 million yuan). After the completion of the transaction, Zipfizz will become a wholly-owned subsidiary of the company and will be included in the company's consolidated statement. Kingdomway disclosed that it had accepted the application from KUC of a loan of US$40 million to purchase Zipfizz shares and will provide internal guarantee loans to meet KUC’s capital requirement.
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