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Youyue acquires China green tech firm

This will be done by acquiring WYW Capital which owns Harbin Promlite

Published Thu, Jun 12, 2014 · 10:00 PM
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IN a bid to branch out into sustainable development business, China-based packaging product manufacturer Youyue International has entered into a deal to acquire Chinese firm Harbin Promlite Energy Saving Technology Co Ltd.

This will be done through the full acquisition of Singapore-incorporated WYW Capital Pte Ltd, which holds the entire equity stake in Harbin Promlite.

The vendors are Youyue's controlling shareholder Zhao Lizhi and executive director Wang Yousheng.

The consideration is $1 taking into account the audited net tan…

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