China Oceanwide Group Limited entered into a share and purchase agreement to acquire 52.4% stake in Quam Limited (SEHK:952) from Porto Global Limited, Olympia Asian Limited, Bernard Pouliot, Kenneth Lam Kin Hing and Richard David Winter for HKD 1.1 billion on October 28, 2016. Under the acquisition, China Oceanwide will acquire 794 million shares for HKD 1.38 per share. In a related transaction, China Oceanwide made an offer to acquire the remaining shares of Quam Limited. The transaction is subject to be approved by regulatory authorities. Transaction is approved by Securities and Futures Commission on January 18, 2017. Transaction is expected to close on January 26, 2017. Haitong International Capital Limited and UOB Kay Hian (Hong Kong) Limited acted as financial advisors for Oceanwide. Quam Capital Limited acted as financial advisor for Quam Limited. Peng Qi of KIrkland & Ellis acted as legal advisor to Oceanwide Holdings. China Oceanwide Group Limited completed the acquisition of 52.4% stake in Quam Limited (SEHK:952) from Porto Global Limited, Olympia Asian Limited, Bernard Pouliot, Kenneth Lam Kin Hing and Richard David Winter on January 26, 2017.