OnMobile Global said that the company has executed a non-binding memorandum of understanding (MOU) for the potential divestment of its group company, Voxmobili, which specializes in mobile telecommunication products.
The proposed deal will be subject to and contingent upon certain events, including applicable regulatory and shareholders' approvals.
If the proposed deal were to consummate, OnMobile could realize an amount ranging between USD 23 million to USD 26 million for the divestment of the said company (which is around its book value), subject to escrows and other conditions customarily contracted as a part of such a deal, the company said.
