Acme Gear Global Limited entered into a sale and purchase agreement to acquire 28.07% stake in Century Ginwa Retail Holdings Limited (SEHK:162) from Hony Capital Industrial Fund I managed by Hony Capital (Beijing) Co., Ltd. on July 3, 2024. Acme will acquire 322.7 million shares in Century Ginwa in two tranches. Before October 30, 2024, Acme will acquire 45.45 million shares, representing approximately 3.95% and no later than December 31, 2025, Acme will acquire the remaining balance of the sale shares i.e. 277.27 million shares, representing approximately 24.12%.

The transaction is conditional on each of the Vendor and the Purchaser has complied with all of its obligations, no order, directive or judgement of any governmental or regulatory authority, or any applicable law or regulation, having been issued or made which will prohibit or restrict the disposal, all approvals, consents, licences, filings (if any) of any third party and/or governmental or regulatory authority required in connection with the disposal having been obtained and the representations and warranties provided by the Vendor under the agreement remaining true, accurate and not misleading in all respects. The transaction will close no later than December 31, 2025.