CDW Holding Limited (SGX:BXE) signed a sale and purchase agreement to acquire Tomoike Electronics (Shanghai) Co., Ltd. from Tomoike Industrial (H.K.) Limited for CNY 12.8 million on January 18, 2018. The deal value is payable in cash. The consideration shall be settled in full by one installment within sixty days after a new business license showing CDW Holding Limited as shareholder of Tomoike Electronics (Shanghai) Co., Ltd. is obtained. Under CDW Holding Limited's exercise to consolidate its operations, the business of Tomoike Electronics (Shanghai) Co., Ltd. will be transferred to CDW Holding Limited's other operating subsidiaries. As on December 31, 2017, Tomoike Electronics (Shanghai) Co., Ltd. reported unaudited net book value of CNY 16.2 million. The completion of disposal may be subject to the approval of shareholders. The agreement is also conditional upon the satisfaction that within ten days upon signing the agreement that both CDW Holding Limited and Tomoike Industrial (H.K.) Limited shall obtain the proper internal approval of this transaction, the registered capital of CDW Holding Limited amounting to CNY 10.8 million shall be fully paid up and CDW Holding Limited has the legal capacity to acquire the paid-in capital of Tomoike Electronics (Shanghai) Co., Ltd. and shall provide proof of funds for the consideration to be paid in full. Further, the obligation of Tomoike in connection with the transfer of ownership is fulfilled when all the registration/cancellation procedures necessary for change of ownership with the relevant People's Republic of China competent authorities are completed. The deal is expected to be completed by end of January 2018. CDW Holding Limited (SGX:BXE) cancelled the acquisition of Tomoike Electronics (Shanghai) Co., Ltd. from Tomoike Industrial (H.K.) Limited on January 18, 2019.