Hygieia Group Limited (SEHK:1650) agreed to acquire 51% stake in Dongxing Life Convenient Store (Shenzhen) Co., Ltd. from Dongxing Holdings (Wuhan) Co., Ltd. for HKD 32.3 million on April 18, 2024. The consideration consists of HKD 34.20 million in cash. As part of the consideration, HKD 34.20 million was paid by issuing the convertible notes.

The deal is subject to approval from stock exchange, and consummation of Due Diligence Review, Legal Opinion and Valuation Report on Dongxing Life Convenient Store. The deal is expected to be completed on December 31, 2024. VBG Capital Limited acted as financial advisor to Hygieia Group Limited.