Leader Environmental Technologies sells AIWater shares for $67.9m

The shares will be sold to WJL Holding.

Leader Environmental Technologies (LET) has, through its wholly-owned subsidiary, United Greentech Holdings, entered into a conditional share sale and purchase agreement (SPA) to dispose all of its shares held in AIWater for $67.9m (RMB364m).

The shares, representing 70% of AIWater’s total share capital, will be sold to WJL Holding, which already holds the remaining 30% stake in the former.

LET also entered into another conditional share SPA to sell all its shares in UG Water for $1.12m (RMB6m). The shares represent a 50% stake in UG Water, which owns Xinwo AIWater (Hubei) Co., Ltd.

UG Water is a Singapore-incorporated investment holding company whilst Xinwo AI is a Chinese-incorporated mainly in the business of wastewater treatment plant management.

($1=RMB0.64)

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