Mingzhu To Acquire Feipeng For Approximately Us$15 Million
12/21/22, 1:10 PM
Industry
logistics
transportation
supply chain management
logistics
manufacturing
MingZhu Logistics Holdings Ltd. (NASDAQ: YGMZ) (the "MingZhu" or "Company"), a leading trucking service provider, today announced it has entered into a Share Purchase Agreement (the "SPA") to acquire Feipeng Global Limited (the "Feipeng"), a services provider of slack coal transportation for the "first and last mile" by road-railway intermodal system in Xinjiang, China. The acquisition is valued at approximately US$15 million and is expected to be immediately accretive to MingZhu's revenue, gross margin and net income. The transaction is subject to the conditions that are customary for transactions of this type.
Company Info
Company info
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit ir.szygmz.com.