Leader Environmental Technologies (SGX:LS9) has signed a non-binding term sheet to sell its stakes in AIWater (Anhui) and UG Water to the United AI Greentech consortium for an indicative consideration of 370 million yuan, according to a Tuesday filing on the Singapore Exchange.
The deal includes 70% of AIWater, a China-based AI wastewater firm, and 50% of UG Water, which holds Xinwo AIWater (Hubei). Xinwo AI manages wastewater treatment plants and uses the management system developed by AIWater for managing the plants.
The consortium is led by InnoVision Capital and includes major shareholders Lin Yucheng and Pan Shuhong.
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