Emperor International Holdings Limited entered into an agreement to acquire Uhray Investment Limited from Henderson Land Development Company Limited (SEHK:12) for approximately HKD 520 million.

Emperor International Holdings Limited (SEHK:163) entered into an agreement to acquire Uhray Investment Limited from Henderson Land Development Company Limited (SEHK:12) for approximately HKD 520 million on January 10, 2017. Under the terms of the agreement, Emperor International Holdings will acquire equity interest and loan of the target company and an initial deposit of HKD 51.5 million has been paid on signing the agreement, HKD 51.5 million will be paid on or before February 10, 2017 and remaining will be payable upon completion. The transaction will be funded through internal resources.

As of November 30, 2016 Uhray Investment Limited reported total assets of HKD 407.78 million and net assets of HKD 292.21 million. The transaction is expected to complete on July 10, 2017.