rainmaker, you are right -- partially. The news is a US financial institution is willing to dole out big money to TriTech.
The board of directors (“Board” or “Directors”) of Tritech Group Limited (the “Company” together with its subsidiaries the “Group”) wishes to announce that the Company had on 26
January 2015 received a non-binding letter of an expression of interest from a reputable international financial institution indicating its interest in potentially committing up to USD 3
Billion (in USD or RMB) over the next five (5) years for projects developed by the Company with the following details:
(i) Project Region: China and Asia Pacific region;
(ii) Project Nature: municipal water supply, waste water treatment, water reclamation,
water and environmental monitoring, and other water and environmental related projects; and
(iii) Type of Projects: Build-Operate-Transfer (BOT), Public-Private-Partnership (PPP), etc.
Any commitment or agreement would be subject to the satisfaction at the financial institution’s
discretion of a number of conditions, including, but not limited to:
(a) Receipt of the financial institution’s internal credit committee and Board approvals as necessary;
(b) Due diligence review of the transactions satisfactory to the financial institution;
(c) Receipt of outside consultant reports and appraisals satisfactory to the financial institution;
(d) Receipt of legal opinions satisfactory to the financial institutions;
(e) Execution of final definitive agreements satisfactory to the financial institution; and
(f) Mutual agreement on the pricing to be determined based on market conditions at the appropriate time.
Due to the confidential undertaking provided by the Company to the financial institution, the Company is unable to state the identity of the financial institution in the announcement.