Yues International Holdings Group's (HKG:1529) subsidiary, Guangdong Yues International Logistics, has agreed to sell back 60% of the issued share capital of Zhongshan Haihui Technology Logistics (Group) to Wang Haixi for one yuan, according to a Friday Hong Kong bourse filing.
The shares to be sold were originally purchased by the seller from the vendor under the 2023 agreements between the parties and are being sold back under the put option granted to the vendor by the purchaser.
In addition, the relevant parties have decided to terminate the 2023 agreements and the put option.
Guangdong Yues International Logistics also agreed to sell a 7.5 million yuan loan owed by the target company and its accrued interest to Guangzhou Fengyou Packaging Products for 7 million yuan.
After the transaction, the company will no longer have any interest in the target.
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