China Merchants Hoi Tung Trading Company Limited entered a memorandum of understanding to acquire a 49% stake in Best Mart 360 Holdings Limited (SEHK:2360) from Lin Tsz Fung and Hui Ngai Fan on August 24, 2022. China Merchants Hoi Tung Trading Company Limited entered a sale and purchase agreement to acquire a 49% stake in Best Mart 360 Holdings Limited (SEHK:2360) from Lin Tsz Fung and Hui Ngai Fan for HKD 862 million on March 27, 2023. Lin Tsz Fung and Hui Ngai Fan each hold 37.5% stake and will sell the collective 49% stake in equal proportions. The MOU is subject to a formal definitive agreement and is valid up to 9 months. China Merchants Securities (HK) Co., Limited acted as financial advisor for China Merchants Hoi Tung Trading Company Limited. Christina S.M. Lee, Brian K.T. Wong of Baker & McKenzie acted as legal advisor to China Merchants Hoi Tung Trading Company Limited. Computershare Hong Kong Investor Services Limited acted as registrar and Somerley Capital Limited acted financial advisor for Best Mart 360
Holdings Limited.