A Locke Lord deal team of Wing Cheung, Roger Wong, Carmen Liang, Heidi Ho and Corinna Tang (all of Hong Kong) advised Neptune Group Limited (HK Stock Code: 70) on two acquisitions, which in aggregate constitute a major transaction under the Main Board of The Stock Exchange of Hong Kong Limited’s Listing Rules:
(1) acquisition of 30 percent of the equity interest in and shareholders’ loans owing by Ever Praise Enterprises Limited by Top Metro Ventures Limited, a direct wholly-owned subsidiary of Neptune Group Limited, from Take Billion Holdings Limited at an aggregate consideration of HK$189 million; and
(2) acquisition of the entire equity interest in and shareholder’s loan owing by Harbour Bay Hotels Limited by Best Fit Development Limited, a direct wholly-owned subsidiary of Neptune Group Limited, from Harbour Bay Hotels Management Limited at an aggregate consideration of HK$15 million.
Completion took place on June 26, 2017.
Posted July 5, 2017