TST Group Holding Ltd. (TWSE:4439) agreed to acquire Zhen Jiang Tuntex Garment Co., Ltd. from Tuntex Incorporation for $7 million on August 17, 2022. The total price of the subject matter of the transaction is based on $7 million and adjusted according to the amount of the difference between shareholders' equity on the delivery date and shareholders' equity on December 31, 2021, so the actual amount can only be determined on the delivery date. The consideration for the acquisition is cash, and the source of funds is its own funds or bank borrowings. The equity acquisition is subject to the approval of the Investment Review Committee of the Ministry of Economic Affairs of Taiwan. The closing date of the case is tentatively scheduled for October 1, 2022. As on December 26, 2022, The transaction price is revised to $6.2 million. First installment of $3.1 million should be paid within 7 days after the modification is registered and the modification is completed, second installment will pay on the day that expires three months after the delivery date and the accounts receivable that have occurred have been fully recovered $1.86 million will be paid, third installment will pay on the expiry six months after the delivery date, $0.62 million will be paid, fourth installment will pay on the day that expires one year after the delivery $0.62 million will be paid. TST Group Holding and Tuntex Incorporation agree that the delivery date is January 1, 2023.

TST Group Holding Ltd. (TWSE:4439) completed the acquisition of Zhen Jiang Tuntex Garment Co., Ltd. from Tuntex Incorporation for $7 million on January 1, 2023.