Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) entered into a sale and purchase agreement to acquire Globeview Global Limited from China Alliance Properties Limited for approximately CNY 390 million on November 20, 2017. The consideration will be settled by way of issuance of 37.57 million shares and is subject to adjustment. The consideration shares will be subject to a lock up period of 36 months from the date of the completion of the issuance. In related transactions, Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) entered into sale and purchase agreements to acquire stakes in 27 companies on November 20, 2017. For the year ended December 31, 2016, Globeview Global Limited reported total assets of CNY 1.4 billion, net liabilities of CNY 74.99 million, revenue of CNY 2.3 million, and net loss of CNY 81.8 million. The transaction is subject to the agreement been duly executed by the parties, approval of the Board and the shareholders of Shanghai Yuyuan Tourist Mart Co., Ltd., approval by the internal decision making committee of China Alliance, State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, approval of Ministry of Commerce, approval of China Securities Regulatory Commission. Haitong Securities Co., Ltd. acted as financial advisor to Shanghai Yuyuan Tourist Mart Co., Ltd. Pacific Securities Co., Ltd. acted as financial advisor to China Alliance Properties Limited. Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) cancelled the acquisition of Globeview Global Limited from China Alliance Properties Limited on January 12, 2018.