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China Recycling Energy Corp. Enters into Agreement to Acquire Xi’an Taiying Energy Saving .
China Recycling Energy CorporationDecember 28, 2020 GMT
Xian, China, Dec. 28, 2020 (GLOBE NEWSWIRE) China Recycling Energy Corp. (NASDAQ: CREG; “CREG” or “the Company”), a leading industrial waste-to-energy solution provider in China, today announced that Shanghai TCH Energy Technology Co., Ltd. (“Shanghai TCH”), the Company’s wholly owned subsidiary, has recently entered into an Equity Acquisition Agreement with Xi’an Taiying Energy Saving Technology Co., Ltd. (“Taiying”) and each of its shareholders to acquire 100% ownership of Taiying and become its 100% controlling shareholder, subject to certain closing conditions. Shanghai TCH is acquiring TAIYING for a combination of cash and shares of CREG.