HONG KONG, CHINA--(Marketwired - May 9, 2017) - YSK1860, an investment holding company with investments in different countries covering a wide range of sectors from traditional construction, real estate, trading to environmental and the Internet, today announced that on April 27, 2017, it acquired all of the shares of Cleantech Solutions International, Inc. ("Cleantech Solutions") ( NASDAQ : CLNT ) previously held by Cleantech Solutions' Chairman and CEO, Mr. Jinhua Wu, and his affiliates.
Pursuant to the terms of the agreement, YSK1860 purchased 416,249 shares of Cleantech Solutions stock from Mr. Wu and his affiliates for $970,000, or $2.33 per share. Mr. Wu and his affiliates decision to sell their shares was based on personal reasons, and Mr. Wu will retain his positions as Chairman and CEO of Cleantech Solutions going forward.
Commenting on the transaction Mr. Wu said, "The decision to sell these shares was personal, and I am pleased to have found an investor with the patience, vision and expertise to support Cleantech Solutions now and in the future. I look forward to staying on as CEO as we work on improving existing operations and exploring other areas with growth potential."
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