Chinese Estates Holdings Limited (SEHK:127) entered into an agreement to acquire remaining 49% stake in Property at Nos.14-18 Ma Kok Street from Tang Shing Bor for approximately HKD 360 million on January 10, 2020. Under consideration, HKD 360 million include the consideration for the sale shares and the consideration for the sale loan of approximately HKD 158.65 million. Chinese Estates Holdings paid a deposit of HKD 150 million and the remaining consideration is payable upon completion. The consideration is payable in cash and will be settled from internal resources and bank borrowings. The transaction is subject to certain conditions precedent including completion of due diligence and obtaining of all necessary consents and waiver from mortgagee bank of the property. The transaction is expected to complete on February 28, 2020.