Pak Tak International (HKG:2668) acquired the entire issued share capital of Zhongchuan Investment Group from Zhongchuan Investment Holding for 289.9 million yuan.

The consideration was settled by allotting and issuing 950 million shares of the company to the vendor at HK$0.336 apiece, a Tuesday Hong Kong bourse filing said.

The consideration shares represent 16.87% of the enlarged issued shares of the company.

After the transaction, the target will become a subsidiary of the company while the vendor will become a substantial shareholder of the company.