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Fantasia Hldg Group Co Ltd Announces Possible Acquisition Of Real Estate Projects Company In PRC

Monday, 21 Oct 2013 09:05am EDT 

Fantasia Hldg Group Co Ltd announced that on October 21, 2013, the Company entered into the MOU with an Independent Third Party. Pursuant to the MOU, it is proposed that the Company or its affiliated company will acquire, and the Independent Third Party will sell or procure to be sold, all the equity interest in the Project Company (the company established in the PRC with limited liability which holds certain real estate projects in the PRC, which is the subject of the MOU) and the benefit of the related indebtedness. The consideration for the Proposed Acquisition will be determined by the parties following due diligence and reference will be made to the net asset value of the Project Company and the amount of the indebtedness to be assigned. The consideration will be satisfied by the Company issuing consideration shares or a combination of consideration shares and cash or other means of payment, subject to further negotiations between the parties.