LINYI CITY, China, Oct. 26, 2017 /PRNewswire/ -- As previously
disclosed, on December 22, 2016,
American Lorain Corporation (the
"Company") entered into a Share Exchange Agreement (the
"Agreement") with Shengrong Environmental Protection Holding
Company Limited, a business company incorporated in the
British Virgin Islands with
limited liability ("Shengrong"), and each of Shengrong's
shareholders (collectively, the "Sellers"), pursuant to which,
among other things and subject to the terms and conditions
contained therein, the Company agreed to effect an acquisition of
Shengrong and its subsidiaries, including Hubei Shengrong
Environmental Protection Energy-Saving and Technology Co. Ltd., a
registered company in Hubei China
by acquiring from the Sellers all outstanding equity interests of
Shengrong. However, due to the Company's inability to timely file
its annual report on Form 10-K such agreement was terminated by
Shenhgrong, pursuant to the terms of the Agreement, and abandoned
in June 2017. The Company will continue to evaluate other
acquisition opportunities to enhance shareholder value in the future.
For more information contact:
+86-539-731 7959
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SOURCE American Lorain
Corporation