SORL Auto Parts Enters Into Definitive Merger Agreement for “Going Private” Transaction
SORL AUTO PARTS (SORL)
Last sorl auto parts earnings: 11/14 04:25 pm
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US:NASDAQ Investor Relations:
sorl.cn/?p=83
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Source: GlobeNewswire
ZHEJIANG, China, Nov. 29, 2019 (GLOBE NEWSWIRE) -- SORL Auto Parts, Inc. (NASDAQ: SORL) (“SORL” or the “Company”), a leading manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, today announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Ruili International Inc. (“Parent”), a Delaware corporation and formed on behalf of a consortium consisting of Mr. Xiao Ping Zhang, the Company's Chairman and Chief Executive Officer, Ms. Shu Ping Chi and Mr. Xiao Feng Zhang, directors of the Company, and Ruili Group Co., Ltd. (collectively, the “Consortium”), and Ruili International Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of Parent. Pursuant to the Merger Agreement, subject to the satisfaction or waiver of all of the conditions to closing: Merger Sub will merge with and into the Company, with the Company will thereafter continue as the survivin
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