China Best Group Holding Limited (SEHK:370) agreed to acquire ZR Securities, ZR Futures, ZR Investment, ZR Asset Management and ZR Corporate Finance from Dragon Ocean Development Ltd. for HKD 200 million in cash on January 24, 2017. Under the terms of the agreement HKD 20 million will be paid in cash with in five business days upon signing of the agreement, HKD 80 million will be paid in cash with in five business days upon fulfillment of all the conditions required for the transaction and remaining HKD 100 million will be paid in cash with in five business days upon completion date. The consideration will be funded by from the issue of new shares under specific mandate, internal resources of China Best Group Holding Limited, and possible external borrowings and/or equity fund raising if necessary. As on April 30, 2016 ZR Securities, ZR Futures, ZR Investment, ZR Asset Management and ZR Corporate Finance reported loss of HKD 9.52 million. The completion of the acquisition is subject to approval from the relevant governmental or regulatory authorities, approval from the Board and shareholder’s of China Best Group Holding, approval from the board and shareholder of Dragon Ocean Development Ltd, subject to approval of legal, financial and tax due diligence review. Anglo Chinese Corporate Financial Limited acted as financial advisor for China Best Group Holding Limited.