Texhong explores major acquisition of Americas textile operations

Texhong International Group Limited announced its intention to acquire equity interests and assets in the Americas, signing a non-binding letter of intent with an independent third-party vendor. The potential acquisition involves textile product processing and fabrics sales businesses, along with related assets, currently held or controlled by the vendor.

Under the terms of the letter of intent, Texhong will conduct due diligence. The vendor is restricted from engaging in other investment, transfer, or disposition discussions concerning the target assets for six months, or until a definitive agreement is signed.

The company anticipates that if the potential acquisition materializes, it would constitute a notifiable transaction under Chapter 14 of the listing rules. Shareholders and potential investors are advised to exercise caution, as the transaction remains subject to further negotiations and the execution of a formal, binding definitive agreement, with no guarantee of completion.