Bolina Holding Co., Ltd. (SEHK:1190) entered into a memorandum of understanding to acquire 51% stake in Xiamen Mas-Agee Electronic Technology Co., Ltd. for CNY 300 million on August 17, 2016. Under the agreement, the consideration is subject to further negotiations and completion of due diligence and will range from CNY 200 million to CNY 300 million. As of January 21, 2017 Bolina Holding Co., Ltd. (SEHK:1190) entered into share purchase agreement to acquire 51% stake in Xiamen Mas-Agee Electronic Technology Co., Ltd. for CNY 71.5 million for cash and stock. As per the terms of agreement Bolina Holding Co., Ltd. (SEHK:1190) will pay CNY 14.3 million in cash and remaining CNY 57.2 million in stock by issuing 183.9 million shares. The sellers in the transaction are Lin Xinqiang, Ye Qishuang, Yang Jianming, Zheng Huilian, and Lin Maorong for 10%, 11%, 10%, 10%, and 10% respectively. The transaction is subject to due diligence, stock exchange approval, Government or regulatory approval and other conditions. As on October 23, 2017, Bolina Holding Co., Ltd. announced that the consideration will be settled after the issue of shares and conditions precedent being fulfilled. As on October 24, 2017, Bolina Holding Co., Ltd. announced that the consideration of CNY 5.35 million was settled in June 2017 and consideration of CNY 8.95 million will be settled in April 2018 after fulfillment of guarantee profit. The transaction is expected to close on April 21, 2017. Bolina Holding Co., Ltd. (SEHK:1190) completed acquisition of 51% stake in Xiamen Mas-Agee Electronic Technology Co., Ltd. on May 2, 2017.