China Sunshine Paper Ends Profit Guarantee, Updates Acquisition Terms
Reuters
Dec 05
China Sunshine Paper Ends Profit Guarantee, Updates Acquisition Terms
China Sunshine Paper Holdings Co. Ltd. has reached an agreement to terminate the adjusted profit guarantee related to its previous acquisition of a 45% shareholding interest in a target company. Following uncertainties in the execution of the profit guarantee, the company engaged in negotiations with the relevant guarantors and decided to end the adjusted profit guarantee, entering into sale and purchase agreements instead. The board, including independent non-executive directors, considers the terms of the new agreements and the profit guarantee termination to be fair and reasonable and in the interests of the company as a whole.
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