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MingZhu to Acquire Feipeng for Approximately US$15 Million

PR Newswire - Press Release

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Deal Expands Critical First and Last Mile Slack Coal Transport Network

SHENZHEN, China, Dec. 21, 2022 /PRNewswire/ -- 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.

Read more at prnewswire.com

Related Symbols

Symbol Last Chg %Chg
YGMZ 0.0216 -0.0346 -61.57%
Mingzhu Logistics Holdings Ltd

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