MingZhu Logistics Holdings Limited (YGMZ) has signed a Share Purchase Agreement to acquire 100% equity of Shenzhen Mingzhuchun Wine Co., Ltd.
Shenzhen Mingzhuchun Wine Co., Ltd. runs its liquor distribution business through two subsidiaries, Xiamen Bainian Qianzhuang Wine Group Co., Ltd. and Ningde Mingfu Wine Co., Ltd., in China.
Under the agreement, MingZhu Logistics Holdings Limited (YGMZ) will acquire the entire equity of Mingzhuchun in exchange for issuing 2,000,000 ordinary shares upon closing.
The completion of the transaction is subject to the satisfaction of closing conditions outlined in the agreement by MingZhu Logistics Holdings Limited (YGMZ).
This acquisition supports Mingzhu Liquor Co., Ltd. (000513) in expanding into China’s commercial liquor distribution sector and leverages synergies with existing operations.