China liberal education holdings limited provides update on acquisition of wanwang investment limited

Beijing, feb. 17, 2022 /prnewswire/ -- china liberal education holdings limited (nasdaq: cleu) ("china liberal", or the "company", or "we"), a china-based company that provides smart campus solutions and other educational services, today provided an update on the acquisition (the "acquisition") of wanwang investment limited ("wanwang"), the operator of an independent three-year college and a four-year college in china with a total student enrollment of over 4,200. as previously disclosed, on february 1, 2022, the company entered into a stock purchase agreement with wanwang, xiaoshi huang and thrive shine limited, to acquire all the equity interests of wanwang investment limited from xiaoshi huang and thrive shine limited in consideration for us$60 million, subject to certain adjustments and payable in installments.
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