Alset Inc. Announces Execution of Binding Term Sheet to Acquire 41.5% Interest in Company Engaged in Distribution of Electric Vehicles and Charging Stations

Bethesda, MD, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Alset Inc. (NASDAQ:AEI) ("AEI" or the "Company"), a diversified holding company principally engaged through its subsidiaries in the development of smart and sustainable home communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, is pleased to announce the signing of a binding term sheet to acquire 100% of New Energy Asia Pacific Inc. (“NEAPI”). NEAPI owns approximately 41.5% of New Energy Asia Pacific Limited, a Hong Kong company (“New Energy”). New Energy focuses on distributing all-electric versions of special-purpose and transportation vehicles, charging stations and batteries.