BEIJING (dpa-AFX) - Aoxin Tianli Group Inc. (ABAC) announced it has executed an equity transfer agreement to sell the company's 88% equity interest in Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. to Zhong Bi Cheng Holdings Co., Ltd. Pursuant to the Agreement, the company agreed to transfer the equity interest for a consideration of RMB 26 million, of which RMB 5 million has been paid to the company and the remaining RMB 21 million due by December 30, 2016.
The company's Board voted in favor of the transaction on December 23, 2016.
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