AcquisitionsAug 11, 2026, 03:06 PM
DirectBooking Terminates $12.7M China Wangmao Acquisition
AI Summary
DirectBooking Technology Co., Ltd. has terminated its Securities Purchase Agreement (SPA) to acquire a 49% stake in China Wangmao Liquor Industry Group Co., Limited. The company had previously paid approximately US$12.7 million for the shares in December 2025 but had not received them due to commercial considerations and unforeseen events. Following negotiations, China Wangmao has agreed to compensate DirectBooking by paying 5.25% annual interest on the purchase price for the period it was held.
Key Highlights
- Terminated Securities Purchase Agreement (SPA) for 49% stake in China Wangmao.
- Company had paid approximately US$12.7 million for the shares.
- Payment for the acquisition was made in December 2025.
- China Wangmao to pay 5.25% annual interest on the purchase price.
- Original Memorandum of Understanding (MOU) was dated August 18, 2025.
- SPA was entered into on November 11, 2025.
- Termination notice delivered on August 11, 2026.
Price Impact
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