Oyocar Group signs LOI to acquire Shanghai Zhongru Smart Energy Group - OYCG News | RalliesOyocar Group signs LOI to acquire Shanghai Zhongru Smart Energy Group
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OYCG• Oyocar Group enters letter of intent for acquisition
- Oyocar Group entered a July 22, 2026 letter of intent to acquire Shanghai Zhongru Smart Energy Group.
- Consideration is expected to include a mix of common stock and preferred stock.
- A definitive agreement is targeted for about Aug. 31, 2026, with closing expected shortly afterward.
- Shanghai Zhongru operates in power and energy, focusing on electricity-to-heat technologies using water as an energy storage medium.
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