MingZhu Logistics Enters Share Purchase Agreement To Acquire Alliance Liquor; MingZhu Shall Acquire 100% Of Alliance Liquor In Exchange For The Issuance Of 4,569,095 Ordinary Shares Of MingZhu Upon Closing
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MingZhu Logistics (NASDAQ:YGMZ) has entered into a Share Purchase Agreement to acquire 100% equity of Alliance Liquor Investment. MingZhu will issue 4,569,095 ordinary shares upon closing, and Alliance Liquor's shareholder will receive additional earnout payments if certain net income targets are met.
May 26, 2023 | 1:07 pm
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MingZhu Logistics (YGMZ) is acquiring Alliance Liquor Investment, expanding into the commercial liquor distribution market. The deal involves issuing 4,569,095 ordinary shares of MingZhu upon closing.
The acquisition of Alliance Liquor Investment will help MingZhu Logistics expand into the commercial liquor distribution market, which is expected to grow due to the reopening of the economy and increasing demand for premium quality liquor. This strategic move is likely to have a positive impact on YGMZ's stock price in the short term.
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