An unnamed Chinese limited liability company has agreed to purchase Jilin Hengli for a consideration of 50 million yuan (US$8 million), Enviro stated.
The consideration will be paid in two phases: 48 million yuan, together with the cash balance of Jilin Hengli, will be due to Enviro within three business days of the setting up of a joint escrow account, after which two million yuan will be due within three days of completion of the re-registration process with the relevant Chinese authorities.
Jilin
