Happy-Silicon Venture Co., Ltd. entered into a memorandum of understanding to acquire 75% stake in Fulum Group Holdings Limited (SEHK:1443) from China Sage International Limited, Yeung Yun Chuen, Yeung Yun Kei, and Leung Siu Sun on September 2, 2016. Under the terms of the memorandum, the buyer will acquire 975 million shares. A formal agreement is expected to be signed by the parties within three months from the date of the memorandum. The transaction is subject to consummation of due diligence and approval of regulatory authorities of People's Republic of China. Happy-Silicon Venture Co., Ltd. cancelled the acquisition of 75% stake in Fulum Group Holdings Limited (SEHK:1443) from China Sage International Limited, Yeung Yun Chuen, Yeung Yun Kei, and Leung Siu Sun on January 2, 2017. Happy-Silicon Venture Co., Ltd. cancelled the acquisition of 75% stake in Fulum Group Holdings Limited (SEHK:1443) from China Sage International Limited, Yeung Yun Chuen, Yeung Yun Kei, and Leung Siu Sun on January 2, 2017.