Brief: Coolpad updates on formation of joint venture

China Baoli Technologies Holdings

07/09/2016 12:23

Sept 7 (Reuters) - Coolpad Group Ltd  2369.HK : 
 * Business update term sheet for formation of joint venture  
 * Company entered into a non-legally binding term sheet with China Baoli 
   Technologies Holdings 
 * Term sheet in relation to the proposed formation of a joint venture in China 
 * Company and China Baoli will own as to 49% and 51% in the proposed joint 
   venture, respectively 
 * Registered capital of the proposed joint venture shall be RMB200 million 
 * Says proposed joint venture will not be deemed as the subsidiary of the 
   company 
 
   Source text for Eikon  ID:nHKS8NRhwP  
 
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