SPI Energy Co., Ltd. Signs Term Sheet for the disposition of its Chinese business
SPI Energy Co., Ltd. - Ordinary Shares (SPI)
US:NYSE Investor Relations:
investors.spisolar.com
Company Research
Source: GlobeNewswire
HONG KONG, Aug. 21, 2018 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ: SPI), a global provider of renewable energy solutions and cryptocurrency miner hosting services for business, residential, government and utility customers and investors, today announced that it has entered into a term sheet with Lighting Charm Limited ( the “Buyer”), an affiliate of Tracy Zhoushan, the spouse of Xiaofeng Peng, the Company’s Chairman of the Board of Directors and Chief Executive Officer. The term sheet provides that the Company will sell the Buyer 100% of the shares of SPI China (HK) Limited, which holds all of the Company’s assets and liabilities related to its business in China (the “Acquired Business”). These assets include EPC business, PV projects, Internet finance lease related business, E-commerce and others. The Buyer will pay the Company $1.00 to acquire the assets and the Company will grant the Buyer the option (the “Option”) to purchase from the Com
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