Beijing Sinnet Technology Co., Ltd cancelled the acquisition of 25.17% stake in Guofurui Digital Data System Company Limited from Tradelink Electronic Commerce Ltd.
July 10, 2015 at 12:00 am EDT
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Beijing Sinnet Technology Co., Ltd (SZSE:300383) signed a memorandum of understanding to acquire 25.17% stake in Guofurui Digital Data System Company Limited from Tradelink Electronic Commerce Ltd (SEHK:536) for CNY 85 million on April 20, 2015. Under the terms of agreement, Beijing Sinnet Technology Co., Ltd., paid CNY 10 million as earnest money deposit for performance on April 20, 2015. The transaction is subject to consummation of due diligence. The memorandum of understanding is valid for six months in connection with the acquisition to commence.
Beijing Sinnet Technology Co., Ltd (SZSE:300383) terminated the memorandum of understanding to acquire 25.17% stake in Guofurui Digital Data System Company Limited from Tradelink Electronic Commerce Ltd (SEHK:536) on July 10, 2015. China B-to-B Holdings Ltd exercised its right of first refusal and agreed to acquire 25.17% stake in China International Data Systems Co., Ltd. from Tradelink Electronic Commerce Ltd (SEHK:536) for CNY 85 million.
Beijing Sinnet Technology Co., Ltd. is a China-based company principally engaged in the provision of integrated Internet services. The Company provides broadband access services, Internet data center (IDC) and value-added services, IDC operation and management services, as well as cloud computing and related services, among others. The Companyâs value-added services include IDC network security services, IDC load balancing services, data flow monitoring services and reverse domain name analysis services, among others. The Company also offers network systems integration services. The Company operates businesses in Beijing, Hebei and Hong Kong.
Beijing Sinnet Technology Co., Ltd cancelled the acquisition of 25.17% stake in Guofurui Digital Data System Company Limited from Tradelink Electronic Commerce Ltd.