CT Environmental Group (CTEG)(01363) said it has entered into a letter of intent to acquire a 100% stake in a company engaged in the business of treatment of municipal and industrial sludge as well as industrial solid waste for no more than HK800 million which will be settled in cash.
In addition, CTEG has also entered into a financial strategic co-operation agreement with Xintang branch of the Guangzhou City of the Industrial and Commercial Bank of China for a period of 3 years to provide CTEG a loan facility equivalent to RMB2 billion per annum.
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