EC Healthcare's (HKG:2138) subsidiary BMF Worldwide agreed to acquire 90% of Rising Gold Phoenix's issued share capital from The Cosmetic Care Group for HK$52.5 million, a Tuesday Hong Kong bourse filing said.

Under the agreement, The Cosmetic Care Group has granted BMF a put option, which, if exercised, will require it to sell all the shares of the target company held by the seller at the time the put option is exercised.

The group will source the consideration for the acquisition through its internal resources.