BEIJING, Nov. 23, 2022 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), today announced that on November 23, 2022, the Company and its wholly owned subsidiaries, namely Ambow Education Ltd., Ambow Education Management Ltd. and Ambow Education Group Ltd. (collectively, the "Ambow Subsidiaries") entered into a share purchase agreement dated November 23, 2022 (the "Purchase Agreement") with Clover Wealth Limited (the "Purchaser"). Pursuant to the Purchase Agreement, the Company and the Ambow Subsidiaries have agreed to sell all of the equity interests in the Ambow Subsidiaries to the Purchaser in consideration of the Purchaser paying US$12,000,000 in cash to the Company (the "Sale"). The Sale is subject to customary conditions precedent. For more details of the Sale, please refer to Exhibit 99.2 for the complete text of the Purchase Agreement.
Read more at prnewswire.comAmbow Education Reaches Definitive Agreement for the Sale of Ambow Education Ltd., Ambow Education Management Ltd. and Ambow Education Group Ltd.
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