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BRIEF-Sevcon says has agreed to terminate its equity joint venture with Fuhua Glass

June 8 Sevcon Inc:

* On June 3, co agreed to acquire Xuchang Fuhua Glass' entire 50% equity interest in Sevcon New Energy Technology for a purchase price of $5 million

* Company has agreed to terminate its equity joint venture with Fuhua Glass, a Chinese limited liability company - SEC filing

* Co agreed to reimburse Fuhua Glass for taxes paid by it in relation to equity transfer in an amount not to exceed $1.2 million and ancillary fees

* Upon consummation of acquisition, Sevcon New Energy Technology will become a wholly foreign-owned enterprise under Chinese law Source text: (bit.ly/2rFwd4H) Further company coverage:

我们的标准: 汤森路透“信任原则

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