On the same day, Leader Environmental Tech entered into another conditional share sale and purchase agreement to sell all of its shares in UG Water for RMB6 million or $1.12 million. The shares represent a 50% stake in UG Water, which wholly owns Xinwo AIWater (Hubei) Co., Ltd.
Leader Environmental Technologies has, via its wholly-owned subsidiary, United Greentech Holdings Pte. Ltd., entered into a conditional share sale and purchase agreement (SPA) to dispose all of its shares held in AIWater for RMB364 million ($67.91 million). The signing of the agreement took place on Jan 12.
The shares, representing 70% of AIWater’s total share capital, will be sold to WJL Holding, who already holds the remaining 30% stake in the former.
