Beijing Capital Land Ltd. (SEHK:2868) signed an equity transfer agreement to acquire Beijing Donghuan Xinrong Investment Management Co., Ltd. from Beijing Capital Group Co., Ltd. for CNY 1.6 billion on June 3, 2016. Under the terms of the agreement, Beijing Capital will pay CNY 1.3 billion for equity interest and remaining CNY 269.4 million for the shareholder's loan. The total consideration will be settled in two installments wherein, approximately CNY 626.9 million will be paid within three working days after satisfaction/waiver of conditions and approximately CNY 940.35 million will be paid within ten working days after completion. The transaction will terminate if not completed by October 31, 2016 and Beijing Capital Group Co., Ltd. shall return the first installment of the consideration to Beijing Capital Land Ltd. within 10 days. Beijing Donghuan Xinrong Investment Management Co., Ltd. had net profit before tax in the amount of CNY 96.42 million, revenue of CNY 108.54 million, operating profit of CNY 126.05 million, total assets of CNY 1.67 billion, and net assets in the amount of CNY 989.34 million for the year ended December 31, 2015. The transaction is subject to approval by the Board of Directors and shareholders of Beijing Capital Land Ltd., Beijing Capital Group Co., Ltd. and Beijing Donghuan Xinrong Investment Management Co., Ltd., approval of State-owned Assets Supervision, Administration Commission, the business valuation report by the independent valuer having been completed and approved, the relevant approved documents having been obtained, all necessary governmental, regulatory approvals being obtained, and relevant third parties approvals being obtained. An independent committee of non-executive Directors has been formed to advise the shareholders on the transaction. Independent Committee unanimous approved the transaction on June 29, 2016. The deal has been approved by the shareholders of Beijing Capital Land Ltd. The transaction is expected to close on the seventh working day upon completion of all conditions and Capital Group having entered into new lease agreements. On October 31, 2016, the long stop date for the transaction has been extended to January 31, 2017. PricewaterhouseCoopers Zhong Tian LLP acted as an accountant to Beijing Capital Land Ltd. Nuada Limited acted as financial advisor for Beijing Capital Land Ltd. Beijing Capital Land Ltd. (SEHK:2868) completed the acquisition of Beijing Donghuan Xinrong Investment Management Co., Ltd. from Beijing Capital Group Co., Ltd. on January 27, 2017.