China Lending to buy 65% in Cayman Lixin

|About: China Lending Corporation (CLDC)|By:, SA News Editor

China Lending (NASDAQ:CLDC) agrees to acquire a 65% stake in Lixin Financial Holdings Group, a Cayman Islands-based company that holds 99% of Zhejiang Lixin Enterprise Managment Holding.

Zhejiang Lixin is a financial services company that serves  individuals and micro-, small-, and medium-sized enterprises in the Yangtze River Delta region in China.

China Lending will issue RMB 276M ($40M) of its shares to the selling shareholders of Cayman Lixin.

Sees completing deal in August 2019.

May acquire the remaining 35% equity interests in Cayman Lixin, subject to certain conditions, including the completion of future financing.

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