Paragon Shine has completed its acquisition of a controlling stake in Sun Art Retail Group (HKG:6808), according to a Friday filing with the Hong Kong bourse.
Paragon Shine and its designated entity, Lavender Haze, acquired about 78.7% of Sun Art's issued share capital.
The acquisition involved the purchase of 7.51 billion shares with an initial payment of HK$6.91 billion, a deferred balance of HK$3.45 billion, plus potential interest.
Following the deal, Paragon Shine is set to launch a mandatory takeover offer, with details to be published by March 6.
Last month, Alibaba Group (HKG:9988) agreed to divest its interest in Sun Art to Paragon Shine.
Shares of Sun Art Retail fell 5% in recent trading in Hong Kong.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。