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Far International Holdings Group's Subsidiary to Acquire 30% Membership Interests in Group's Supplier in U.S.
Fanyuan International plans to acquire a 30% stake in a USA logistics service provider.
Fan Yuan International (02516) announced that on January 3, 2025, its indirect wholly-owned subsidiary Ingrun Holdings Limited intends to acquire a total of 30% membership interest in Advanced Logistics Solutions LLC from Hi5s and Hard 8, at a cost of $635,318.4. The target company serves as a supplier for the group in the USA, operating container freight stations and providing collection, sorting, and warehousing services after packages arrive at US airports. The target company also provides customs clearance services for the group in the USA. The announcement stated that
Fan Yuan International (02516.HK) plans to spend 4.93 million Hong Kong dollars to acquire a 30% stake in Advanced Logistics Solutions LLC.
On January 6, Grego Hong announced that Pan Yuan International (02516.HK) issued a notice stating that on January 3, 2025, the buyer (Ingrun Holdings Limited, an indirect wholly-owned subsidiary of the company) entered into a member equity purchase agreement with the target company (Advanced Logistics Solutions LLC, a company incorporated in the state of Utah, USA) and the sellers (collectively referred to as Hi5s and Hard 8). According to this agreement, the sellers agreed to sell the member equity for sale (a total of 30% member equity of the target company).
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