Depu Technology terminates acquisition of LED street light business

Sina Finance News October 4th news, Depu Technology (0.91, 0.01, 1.11%, real-time market economy) terminated the acquisition of 60% of Link Force, and the deposit of 15 million Hong Kong dollars to the seller will be returned to the buyer.

Depu Technology (03823) issued a notice stating that the termination of the 60% interest in Link Force was due to the failure to complete the due diligence review of the target business. The formal agreement under the MOU was not available on September 30. Or the previous meeting, the MOU has been terminated and the deposit of HK$15 million paid to the Vendor will be refunded to the Purchaser.

In December 2009, Depp Technology announced a memorandum of understanding to purchase a 60% stake in Link Force from SRG for a price not exceeding HK$500 million, which will be in cash, allotment or convertible bonds or promissory notes or any combination Way to pay. Link Force is an environmentally-friendly and energy-saving investment company that will be principally engaged in the contract manufacturing, installation and maintenance of light-emitting diode (LED) street lights in the Mainland.

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