BRIEF-China Automation Group enters into sale and purchase agreement

March 31 (Reuters) - China Automation Group Ltd:

* Company and vendor entered into sale and purchase


* Deal to acquire 60pct of total issued share capital of

target company

* Deal for consideration shall be amount equal to 2016

actual net profit multiplied by 20

* Consideration shall be settled by way of issue of

convertible bond in principal amount equal to consideration by

co to vendor at completion

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