EV Technology Group Ltd. (NEOE:EVTG) entered into definitive agreement to acquire remaining 50% stake in MOKE International Ltd from MIL shareholders for $55.2 million on July 20, 2022.Under the terms set out in the Definitive Agreement, the Company shall pay (a) US$31.9 million to certain shareholders of MOKE International in exchange for 53% of the total issued and common shares that the Company does not currently (b) US$21.3 million of outstanding debt of MOKE International owing to certain shareholders and (c) US$2 million to certain management of MOKE International as a transaction bonus. The Acquisition is expected to close later in the year.
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Mar. 28 | EV Technology Group Ltd. Announces Management Resignations | CI |
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- EV Technology Group Ltd. entered into definitive agreement to acquire remaining 50% stake in MOKE International Ltd from MIL shareholders for $55.2 million.