Highlights:
- 99 Wuxian has entered into a binding conditional agreement to acquire Jiangsu Ofpay E-commerce Limited(“Ofpay”)
- Leading supplier of virtual products and services to the e-commerce sector in China
- Strengthens 99 Wuxian’s competitive position, generates cost and revenue synergies and ensures continuity and diversity of virtual products
- Increases and diversifies the financial and operational scale of 99 Wuxian
- Attractive Transaction structure with deferred consideration
- Funding includes RMB140million(A$1 29.9 million) from major shareholder
99 Wuxian Limited
(ASX:NNW) (“99 Wuxian” or “the Company”) today announces that it has entered into a binding conditional agreement to acquire the majority of Jiangsu Ofpay E- commerce Limited (“Ofpay”)(“Transaction”).
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