Brief: Wuling Motors Says Guangxi Automobile, Co, Wuling Industrial & Wuling New Energy Entered Into LoI

Wuling Motors Holdings

01/12/2021 11:45

Dec 1 (Reuters) - Wuling Motors Holdings Ltd  0305.HK :
    * GUANGXI AUTOMOBILE, CO, WULING INDUSTRIAL AND WULING NEW
ENERGY
ENTERED INTO LOI
    * LOI FOR ASSETS RESTRUCTURING AND CAPITAL CONTRIBUTION TO
WULING
NEW ENERGY
    * GUANGXI AUTOMOBILE TO USE WULING NEW ENERGY AS PLATFORM TO
INTEGRATE & REORGANIZE ITS NEW ENERGY VEHICLE RELATED ASSETS AND
BUSINESSES
    * UNDER LOI,GUANGXI AUTOMOBILE SHALL CONTRIBUTE ABOUT RMB1.6
BILLION IN NON-CASH ASSETS
    * UNDER LOI,CO SHALL CONTRIBUTE ABOUT RMB1 BILLION IN CASH
    * WULING INDUSTRIAL SHALL CONTRIBUTE RMB306 MILLION IN
NON-CASH
ASSETS

Further company coverage:  0305.HK 

 ((Reuters.Briefs@thomsonreuters.com;))