Shulou(Shulou.com)11/24 Report--

CTOnews.com September 10 news, Weimar announced today that, after careful consideration, Weimar voluntarily terminated the RTO process with Apollo on the Hong Kong Stock Exchange. At present, Weimar is still an important shareholder of Apollo, and will continue to support the development of Apollo in the future.

According to the prospectus, Weimar lost a total of 17.4 billion yuan in the three years from 2019 to 2021. On June 29 this year, the court issued a consumption restriction order against the founder of Weima, Shen Hui, which listed the company as a person who broke its promise because all the 14065 yuan was not fulfilled.

APOLLO Wisdom Travel Group announced on Sept. 8 that it would terminate the $2.02 billion acquisition of Weimar, which will also be used to complete its backdoor listing after the completion of the major acquisition.

Taking into account, among other commercial factors, including, among other things, global market conditions and geopolitical conflicts, continued uncertainty in financial markets and short-term economic recovery after the outbreak, the buyer, seller and company have mutually agreed to enter into a deed of termination ("termination deed") to terminate the acquisition agreement, so the acquisition and placing will not take place.

APOLLO entered into a conditional sale and purchase agreement with Weimar Group and proposed that the total amount of the placing of the shares would be about HK $3.918 billion (CTOnews.com Note: currently about 3.667 billion yuan) and proposed temporary financing of about 720 million yuan. At the same time, Weimar shareholders have pledged standing financing of HK $1.5 billion (currently about 1.404 billion yuan).

According to previous announcements, APOLLO reached a strategic merger with Weima Motors, with a transaction price of $2.023 billion (currently about 13.696 billion yuan), with the target company accounting for about 80.93% of Weima's total equity. Weimar's deal is valued at $2.51 billion (currently about 16.993 billion yuan).

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.