Brief: Luokung Technology Announces Acquisition Of 51% Of EMG, Strategic Investments From Geely Technology, Acuitas Capital

Luokung Technology

13/11/2019 13:18

Nov 13 (Reuters) - Luokung Technology Corp  LKCO.O :
    * LUOKUNG TECHNOLOGY CORP. ANNOUNCES ACQUISITION OF 51% OF
EMG AND
STRATEGIC INVESTMENTS FROM GEELY TECHNOLOGY AND ACUITAS CAPITAL
    * LUOKUNG TECHNOLOGY CORP - INVESTMENT OF USD $42.5 MILLION
FROM
GEELY
    * LUOKUNG TECHNOLOGY CORP - ANTICIPATES RECEIVING FUNDING OF
UP TO
$100 MILLION FROM ACUITAS TO ACQUIRE REMAINING EQUITY OF EMG
    * LUOKUNG TECHNOLOGY CORP - EXPECTS TO ACQUIRE BALANCE OF
EMG BY
END OF YEAR 2019.

Source text for Eikon:  ID:nPn3rG3Ppa 
Further company coverage:  LKCO.O 

 ((Reuters.Briefs@thomsonreuters.com;))