SINGAPORE (Nov 20): Cheung Woh Technologies announced on Monday has agreed to dispose its entire 31.34% stake in Jiangsu Tysan Precision Engineering Co. for RMB 68 million ($14 million).

The group on Monday entered into two sale and purchase agreements with purchasers Changshushi Zhongjin Industrial Investment Co. and Changshushi Xuhong Trading Co., as well as guarantor Suzhou Suyuan Guarantee Co.

Following the proposed disposal, Changshushi Xuhong will own a 16% stake in Tysan Precision, while Changshushi Zhongjin will see its stake in the company increase to 76.79%, up from the current 61.45%.

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