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YuuZoo in talks with Cinram Europe units after delays in buying holding company

YUUZOO Corporation said on Thursday it is in talks with the subsidiaries of logistics provider Cinram Europe on a country-to-country basis, even though it has an exclusive option to buy Cinram Europe's holding company.

YuuZoo, a Singapore-listed social commerce company, did not specify what the discussions were about, but said there was no deadline set.

On March 22, YuuZoo said it had "acquired an exclusive option to buy the holding company of Cinram Europe . . . from US-based 46 State Street LLC and an affiliate, for a consideration 7.5 million YuuZoo shares".

The option was to expire on June 30, but that was subsequently extended to July 5.