Renmin Tianli Group, Inc. Announces Purchase of Properties
RENMIN TIANLI GROUP INC (ABAC)
US:NASDAQ Investor Relations:
aoxintianli-china.com
Company Research
Source: PR Newswire
WUHAN, China, Jan. 2, 2019 /PRNewswire/ -- Renmin Tianli Group, Inc. (NASDAQ: ABAC) ("Renmin Tianli" or the "Company"), a producer of breeder hogs, market hogs and black hogs, as well as specialty processed black hog pork products sold through retail outlets and the internet, with headquarters in Wuhan City, Hubei Province, China, today announced that it has entered into a purchase agreement with Hubei Science and Technology Industrial Park (the "Seller") to acquire a portfolio of industrial and residential properties (the "Properties") for a total consideration of RMB432 million, including 1) cash consideration of RMB411 million (approximately $59.7 million); and 2) 3,000,000 shares of Renmin Tianli common stock, par value of $0.004 per share, to be issued to certain shareholders of the Seller. The Company's Board of Directors has approved the transaction. Located at No. 1 Qilin Road, Xiangcheng District, Xiangyang City, Hubei Province, the Properties include two industrial buildings
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