The SPA is conditional and will be satisfied upon the approval of Globalpoint’s board of directors. Both companies should not be bankrupt by the day of the completion of the transaction.
Coliwoo Holdings, an indirect wholly-owned subsidiary of LHN Group, has agreed to dispose of its 20% stake in Coliwoo PP to construction firm Globalpoint Far East for a consideration of $395,264.94.
A sale and purchase agreement (SPA) was signed between Coliwoo Holdings and Globalpoint on Nov 23. The consideration will be paid via a telegraphic transfer (TT) or cashiers’ order.
