DL Holdings Group Limited signed a Memorandum of Understanding to acquire remaining 55% stake in DL Family Office (Hong Kong) Limited for approximately HKD 500 million.

DL Holdings Group Limited (SEHK:1709) signed a Memorandum of Understanding to acquire remaining 55% stake in DL Family Office (Hong Kong) Limited from group of seller for approximately HKD 500 million on July 10, 2023. DL Holdings Group Limited (SEHK:1709) agreed to acquire remaining 55% stake in DL Family Office (Hong Kong) Limited for HKD 220 million on September 14, 2023. As of 2022, DL Family Office reported net profit of HKD 20 million, revenue of HKD 40 million and profit before tax was HKD 24 million.

As of June 30, 2023, the unaudited net assets of DL Family Office amounted to approximately HKD 54.07 million. The transaction is subject to approval of board and shareholders of DL Holdings and completed the due diligence. As of October 25, 2023, the transaction has been approved by board of DL Holdings Group Limited.

Kingston Corporate Finance Limited acted as financial advisor to DL Holdings Group. Boardroom Share Registrars (HK) Limited acted as registrar and transfer agent to DL Holdings Group.