Brief: New Sports Group entered into MOU

Glory Sun Land

17/11/2015 14:55

Nov 17 (Reuters) - New Sports Group Ltd  0299.HK : 
 * Inside information memorandum of understanding in relation to a potential acquisition 
 * Says company entered into a non-legally binding MOU with the target company 
 * "No definitive agreement in relation to the potential acquisition has been entered into by the parties" 
 * MOU to set out the principal terms upon which the parties may proceed with the potential acquisition 
 * Contemplated that consideration for acquisition will be fixed on the basis of target company's valuation 
 * Deal consideration intended to be satisfied by co through combination of cash payment,issue of consideration shares to vendors 
 * Consideration currently estimated by the parties to be RMB910 million 
 
  Source text for Eikon  ID:nHKSvGNl2  
 
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