Under such an arrangement, Golden Koala would establish a flagship store on leading Chinese cross-border sales platform, Kaola.com.
Part of internet giant NetEase, Kaola is one of China’s largest and fastest growing cross-border e-commerce platforms.
Jatenergy to acquire 51% of Golden Koala
Jatenergy is in the process of acquiring 51% of Golden Koala.
The market has recognised the benefits of having access to an e-commerce platform in China, with the company’s shares spiking 20%.
The acquisition will only proceed if the necessary resolutions are passed at the general meeting of Jatenergy shareholders to be held on March 27, 2018.
Jatenergy targets FMCG sector
The resolutions are required for Jatenergy to begin operations as a fast-moving consumer goods (FMCG) business.
The acquisition of Golden Koala and the participation in the sales platform are key components of the development of this business.