Group 1 - The company Chevalier International (00025) announced the acquisition of a 40% stake in NC1 Sandhill Limited and associated loans from Mitsui & Co. (Hong Kong) Limited for a total consideration of HKD 203.8 million [1] - Upon completion of the acquisition, NC1 Sandhill Limited will become a wholly-owned subsidiary of the company, enhancing its control over the target group [1] - The target loan agreement with Mitsui has an annual interest rate of 10%, with accrued interest amounting to approximately HKD 122 million as of the date of the agreement [1] Group 2 - The seller's assessment of the target group's business led to an earlier-than-expected decision to liquidate the investment, while the company focuses on the long-term development prospects of the target group [2] - Despite the target group currently being in a loss position, the board believes that the demand for elderly care facilities in Hong Kong will continue to grow due to the aging population [2] - The facility building is located in a prime area and is expected to start operations in November 2024, with the potential to increase occupancy rates and operational revenue, leading to long-term profitability [2]
CHEVALIER INT‘L拟收购NC1 Sandhill Limited40%股权