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Ambow Education Holding To Sell 3 Subsidiaries For $12 Mln Cash

Ambow Education Holding Ltd. (AMBO), a Chinese provider of educational and career enrichment services, said on Wednesday that it has inked a deal to sell its three subsidiaries - Ambow Education Ltd., Ambow Education Management Ltd., and Ambow Education Group Ltd. - to Clover Wealth Limited, for $12 million in cash.

Once concluded, the deal will mark the sale of substantially all of its assets in China, Ambow said in a statement.

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