- China Liberal Education Holdings Ltd CLEU Has entered into a non-binding declaration of intent (LOI) to acquire all outstanding equity interests in the new electric vehicle brand Airways Holdings Limited.
- China Liberal Education is a China-based company that provides smart campus solutions and other education services.
- The acquisition would value all of Aiways’ equity investments at a total of between $5.0 billion and $6.0 billion.
- Upon closing of the transaction, all of Aiways’ equity interests will be converted into China Liberal common stock.
- Both parties are currently completing their respective due diligence of the other party and continue to negotiate the terms of a definitive agreement.
- China Liberal held ~$33 million Cash and Equivalents from the end of 2021.
- Price promotion: CLEU shares trade 26.9% higher at $1.20 on the latest check Friday.
© 2022 Benzinga.de. Benzinga does not provide investment advice. All rights reserved.
