M&A
confidence high
sentiment neutral
materiality 0.85
Oyocar Group changes control; Hoo Boon Lee acquires 78.14% stake for $565K; signs LOI to acquire Shanghai Zhongru
Oyocar Group Inc.
- Hoo Boon Lee acquired 11,985,000 shares (78.14% of outstanding) from former holders for $565,000 cash on July 20, 2026.
- Former directors Jonathan Rafael Perez Peralta and Julissa de Jesus resigned; Lee appointed Sole Director, CEO, Treasurer, Secretary.
- Company entered non-binding LOI to acquire Shanghai Zhongru Smart Energy Group for a mix of common and Series A Preferred Stock.
- Definitive agreement expected by Aug 31, 2026; target specializes in hydro-energy storage and power grid services.
- LOI includes 60-day exclusivity period and confidentiality obligations; binding only on exclusivity, confidentiality, expenses.