Huize holding limited announces termination of acquisition of shengs life & general

Shenzhen, china, jan. 14, 2022 (globe newswire) -- huize holding limited, (“huize” or the “company”) (nasdaq: huiz), a leading digital insurance product and service platform for new generation consumers in china, today announced that it has notified hubei shengs life & general insurance agency co., ltd. (“shengs life & general”) and its shareholders of the termination of the previously announced acquisition of a controlling equity interest in shengs life & general (the “acquisition”). pursuant to the transaction documents of the acquisition, the company is exercising its right to terminate the acquisition with ten working days prior notice due to delays in the closing. the termination of the acquisition will become effective on january 28, 2022. the company will not incur any termination fees in connection with the termination of the acquisition.
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