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Thailand MML terminating its general cable by default
by：AAA
2020-04-12
(
Industry news]
Thailand MML terminate the general cable have been useful P [against
Cable network - 】
According to the general cable end of the month, officials say Thai Logistics enterprise MM (
Hereinafter referred to as the MML)
Finally some provisions reason terminate agreements to buy a company in Australia, New Zealand, China and Thailand related business.
General cable, said the company received notice from MML say, 'are not satisfied with some provisions on the acquisition agreement, decided to terminate the purchase.
'This month, general cable announced with MML for Asian business in cash.
$a final agreement.
Month, general cable has said in a news release $Thai business selling nearly completed.
Thailand business selling complete is the first step in the strategy of 'two-step' deals are completed.
The company expects the second step is to complete the rest of the asia-pacific business selling trading, including China, New Zealand and Australian business.
According to the example set closing conditions, the second step will completed at the end of the month.
Once business in Thailand, China, New Zealand and Australia, general cable is expected to get about.
Million dollars in cash.
Proceeds will be used to reduce the outstanding debt and pay the relevant costs and expenses.
'The MML general cable said, failed to complete the acquisition and terminating its itself is a serious violation of the acquisition agreement.
Company is considering to MML terminating its corresponding measures, including legal action.
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