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On May 7, Chongqing East Bank holding Group Co., Ltd. (hereinafter referred to as: East Bank Holdings) announced that the company and Chongqing Jiangnan Urban Construction and Development (Group) Co., Ltd. signed a "Strategic Investment Framework Agreement". It is intended to promote the enterprise to extricate itself from difficulties through judicial restructuring of BoC Holdings and restructuring of assets, debts, rights and interests, and business.
Bot Holdings is currently the controlling shareholder of ST Dumas, holding ST Dumas 35Fishbaitnearme55% of the shares, but also indirectly control smart agriculture. People related to bot Holdings said the restructuring could involve a change in control of its listed companies. Data show that Jiangnan Group is a state-owned enterprise in Nanan District of Chongqing.
According to the agreement, Jiangnan Group will participate in the restructuring process of bot Holdings as a strategic investor and implement the investment agreement and restructuring plan, and become a shareholder of bot Holdings through judicial restructuring. After becoming the controlling shareholder of bot, Jiangnan Group will further integrate the relevant industrial chain resources and increase the investment of funds and resources in the core business of bot Holdings. The smooth implementation of the restructuring will help bot Holdings to optimize its asset-liability structure and enhance its sustainable operation ability.
Bot Holdings said that after the agreement was signed, the two sides jointly set up a working group, established a coordination and contact mechanism, completed the determination of the identity of investors and signed a formal investment agreement. At present, there have been successful cases of restructuring in the market. Good economic and social results have been achieved, and the company is confident that the restructuring will be completed smoothly.