Pan Asia Environmental Protection Group Ltd. (HK:0556) has released an update.
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Pan Asia Environmental Protection Group Ltd. has agreed to sell its 51% stake in a U.S. subsidiary to Mr. Perez for $450,000. This transaction means the U.S. subsidiary will no longer be part of the company’s consolidated financial statements. The deal is subject to certain reporting obligations under Hong Kong’s Listing Rules but does not require shareholder approval.
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