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HRnetGroup expanding into China with Shanghai acquisition

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HRnetGroup expanding into China with Shanghai acquisition

PC Lee Published on Thu, Jan 11, 2018 / 6:06 PM GMT+8

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SINGAPORE (Jan 11): HRnetGroup is expanding its core business of recruitment services into China.

The group has entered into a binding term sheet to acquire 51% of the shares in REForce (Shanghai) Human Resources Management Consulting Co.

HRnetGroup and REForce has agreed to make the acquisition an all-cash deal where 10%, 45% and 45% of the consideration will be calculated with respect to the financial years ending Dec 31 2017, 2018 and 2019 respectively.

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