Baoguang Industrial (00084) issued an announcement that the company concerned is selling Universal Geneve S...
According to Zhitong Finance App, Baoguang Industrial (00084) issued an announcement relating to the company's sale of all shares of Universal Geneve SA. All preconditions under the share sale agreement have been fulfilled, and the share sale was completed on February 29, 2024 (completion date). According to the terms of the share sale agreement, the authorized retailer and the target company will enter into an inventory sale agreement immediately after completion, and Watch Inventory 2 will be officially delivered to the target company on March 1, 2024. Watch inventory 1 will be delivered to the target company on the delivery date in accordance with the terms of the inventory sale agreement.
After completion, the target company is no longer a subsidiary of the company, and the group no longer owns any interest in the target company. The financial results of the target company will no longer be incorporated into the Group's financial statements.