Group 1 - The company announced that its indirect wholly-owned subsidiary, Minhua American Manufacturing, has entered into a purchase agreement to acquire 100% of the issued share capital of Gainline Recline Intermediate Corp for $32 million [1] - At the time of closing, the seller provided a repayment letter indicating that the total amount required to settle all outstanding obligations under the bank financing obtained by the target group is $27,993,885.51 [1] - The company will provide an interest-free loan of $26,670,335.51 to the target group to fully repay the aforementioned bank financing obligations, with the remaining balance of $1,323,550 to be settled by the target group using available bank cash at closing [1] Group 2 - The target group primarily engages in the manufacturing and sale of soft furniture in the United States, operating eight production facilities in northern Mississippi with a total area exceeding 2 million square feet [2] - The board anticipates that the acquisition will create synergies between the company and the target group, and it will expand the company's production layout in the U.S. to address opportunities and challenges arising from changes in the international trade environment [2] - The board believes that the terms of the purchase agreement are normal commercial terms, fair, reasonable, and in the overall interest of the company's shareholders [2]
敏华控股(01999.HK)拟3200万美元收购Gainline Recline Intermediate Corp.100%权益