ENN Ecological Holdings Co.,Ltd. (SHSE:600803) entered into a purchase and sales agreement to acquire Toshiba America LNG Corporation from Toshiba America, Inc. for $15 million on November 8, 2018. Under the terms of the transaction, ENN will acquire all outstanding shares of Toshiba America LNG Corporation. Once the sale is complete, Toshiba will then make a one-off payment of $821 million to ENN to pass on its roughly $7 billion commitment, starting in 2020, to purchase 2.2 million tonnes per year of LNG over 20 years from Freeport LNG in Texas. Toshiba America LNG Corporation reported net assets of ¥1.6 billion (approximately $13.9 million) and total assets of ¥1.8 billion (approximately $15.9 million) in financial year 2017. The transaction is subject to government approvals including approvals by the Committee on Foreign Investment in United States (CIFIUS) and China's State Administration of Foreign Exchange (SAFE). The Board of Directors of ENN Ecological Holdings Co.,Ltd. approved the deal on November 8, 2018. As on January 15, 2019, the transaction has been approved by the shareholders of ENN Ecological. The transaction is expected to close by March 31, 2019. As of April 1, 2019, transaction is expected to close in April 2019 or shortly thereafter. Barclays acted as financial advisor to Toshiba America, Inc. ENN Ecological Holdings Co.,Ltd. (SHSE:600803) cancelled the acquisition of Toshiba America LNG Corporation on April 10, 2019. Reason for termination is that transfer was not completed by the March end 2019 closing due date as stated in the agreement, and that the required conditions cannot be met in short time, leading to considerable uncertainty in proceeding with the transfer process.