Ambow Education Holding Ltd (AMBO.US) announced on November 23 that it had sold its wholly owned subsidiary to Clover Wealth, Zhitong Financial APP learned.
Under the acquisition agreement, Prologis Inc agreed to sell the entire shares of Ambow Education Holding Ltd, Ambow Education Holding Ltd Management and Ambow Education Holding Ltd Group to Clover Wealth for $12 million in cash.
Upon completion of the sale, the company will sell almost all of its assets in China through its subsidiaries.