| Mongolian Investment proposes new acquisition with MOU |
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| Wednesday, 14 December 2011 11:40 |
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Source: Mongolian Investment Group
Mongolia Investment Group Limited signed a memorandum of understanding with Yuan Tu for the proposed acquisition of the latter, along with other vendors, and Yuan Tu's management shareholders.
Yuan Tu is a business for aerial photography, aviation and aerospace remote sensing image data processing, and the provision of geographic information system software and solutions. The acquisition may occur after Yuan Tu's release of approximately 4.1 billion to 6.9 billion new shares, followed by the issue by Mongolian Investment of convertible bonds with a principal ranging from approximately HKD 1.1 billion (USD 141.3 million) to HKH 1.2 billion, and HKD 59 million paid.
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