Hao Tian Development Group Limited entered into the share and purchase agreement to acquire 75% stake in Clear Lift Holdings Limited from Tang J F T Company Limited for approximately HKD 590 million.

Hao Tian Development Group Limited entered into the share and purchase agreement to acquire 75% stake in Clear Lift Holdings Limited from Tang J F T Company Limited for approximately HKD 590 million on January 16, 2017. Hao Tian Development Group Limited will acquire 750 million shares of Clear Lift Holdings at an offer per share of HKD 0.79. Hao Tian Development Group Limited intends to finance the consideration payable by internal resources and the Facilities.

In a related transaction, Hao Tian Development Group Limited (SEHK:474) made an offer to acquire 25% stake in Clear Lift Holdings Limited (SEHK:1341) for approximately HKD 200 million on January 16, 2017. The deal is subject to shareholders approval, regulatory approval and third party approvals. The deal is expected to close on third business day after fulfillment of last of the conditions or any other day agreed upon.

Deloitte Touche Tohmatsu Hong Kong SAR acted as Accountant for Hao Tian Development Group Limited.