Dezhou United Petroleum Technology Co.,Ltd. signed Stock Purchase and Sale Agreement to acquire 70% stake in IAE International Inc. from Roxanne Howe for $4.9 million on July 4, 2024.
As of May 31, 2024, IAE International Inc. reported total assets of $11.03 million and total common equity of $9.19 million.
The transaction is subject to approval by relevant government authorities in China and the United States. The deal has been approved by the Dezhou United Petroleum board.