Real Nutriceutical Group Limited (SEHK:2010) agreed to acquire Major Express Group Limited from Tseng Hui-che for CNY 1.5 billion on April 19, 2017. Consideration will be settled in cash and the payment of CNY 200 million as deposit to the Tseng Hui-che within three business days from the date of the agreement and the remaining balance will be paid on completion date. As of June 30, 2017, Real Nutriceutical Group paid the payment of CNY 200 million as deposit. As of December 31, 2016, Major Express Group reported revenue of CNY 429 million, EBITDA of CNY 2 million, net loss of CNY 67 million, total assets of CNY 1.69 billion and net assets of CNY 137 million respectively. Upon Completion, the Major Express will become a subsidiary of the Real Nutriceutical. Deal is subject to approval from government authorities, approvals having been obtained from the shareholders of Real Nutriceutical, third party approvals and due diligence. Subject to the fulfillment of the conditions precedent, completion of the agreement shall take place on the third business day after fulfillment of all conditions. The deal is expected to close on December 31, 2017. Real Nutriceutical Group Limited (SEHK:2010) cancelled the acquisition of Major Express Group Limited from Tseng Hui-che on December 31, 2017. As certain conditions precedents were not fulfilled by December 31, 2017, being the long stop date for the fulfillment of conditions precedent to completion, the agreement lapsed and the deposit of CNY 200 million was refunded to Real Nutriceutical Group in accordance with the terms of the agreement.