Chia Hsin Cement Corporation (TSEC:1103) agreed to acquire 23.1% stake in L'Hotel de Chine Corporation from CTBC Securities Investment Trust Co., Ltd. for TWD 1.2 billion on November 11, 2020. Under the terms, Chia Hsin Cement will pay TWD 17.02 for each share of L'Hotel. Transaction will be financed by operational capital. As of November 11, 2020, Board of Directors of Chia Hsin Cement approved the transaction. JIN, CHANG-MIN of KenwillCPA United CPAS Firm acted as accountant for Chia Hsin Cement. Chia Hsin Cement Corporation (TSEC:1103) completed the acquisition of 23.1% stake in L'Hotel de Chine Corporation from CTBC Securities Investment Trust Co., Ltd. on December 1, 2020. Under the terms, the Group acquired 67,998,915 shares of L’Hotel De Chine Corporation for TWD 1.1 billion in cash and TWD 50 million of contingent consideration agreement. According to the contingent consideration agreement, if the earnings per share of L’Hotel De Chine Corporation in 2020 did not meet the contractual agreement, the Group is not obligated to pay the contingent consideration. The management believes that the payment is likely to occur and is unavoidable. Accordingly, the fair value of this obligation at the date of acquisition is estimated to be TWD 50 million.