MIG Unmobi Technology Inc. cancelled the acquisition of remaining 90% stake in Wuxi Online and Offline Network Technology Co., Ltd from Zhangshu Rongyu Investment Management Center (Limited Partnership), Wang Kun and Men Qingjuan.
On July 29, 2016 the shareholders and Board of Directors of Wuxi Online and Offline Network Technology Co., Ltd approved the transaction. The transaction needs to be approved by the shareholders of MIG Unmobi Technology and CSRC. As of December 31, 2015 Wuxi Online and Offline Network Technology Co., Ltd. reported total assets of CNY 57.22 million, total owners equity of CNY 27.31 million, revenue of CNY 83.16 million and net profit of CNY 15.87 million. Citi Orient Securities Co., Ltd. acted as Financial Advisor, Grandway Law Offices acted as Legal Advisor and GP Certified Public Accountants Co Ltd acted as Accountant to MIG Unmobi Technology.
MIG Unmobi Technology Inc. (SZSE:300242) cancelled the acquisition of remaining 90% stake in Wuxi Online and Offline Network Technology Co., Ltd from Zhangshu Rongyu Investment Management Center (Limited Partnership), Wang Kun and Men Qingjuan on December 26, 2016. The deal was rejected by regulatory authority.