Pteris Global Limited entered into an agreement to acquire China Fire Safety Enterprise Group Limited (SEHK:445) in a reverse merger transaction on December 4, 2017. Under the terms, China Fire Safety will issue up to 7.5 billion consideration shares and convertible bonds in the principal amount of up to CNY 1.5 billion to the Pteris' vendors. Jiang Xiong holds 24.07% stake in China Fire Safety. In a related transaction, China Fire Safety Enterprise Group Limited entered into an agreement to acquire a 30% stake in Shenzhen CIMC-Tianda Airport Support Ltd. from Liu Xiaolin for approximately CNY 690 million on December 4, 2017. China Fire Safety will seek the specific mandate from China Fire Safety shareholders to allot and issue the consideration shares and conversion shares. The transaction is subject to whitewash waiver being granted by the executive and approved by the independent China Fire Safety shareholders. In the event that the whitewash waiver is not granted on or before the long stop date, the agreement will lapse and the acquisition will not proceed. The transaction is also subject to approval by CIMC’s shareholders, the obtaining of the approval of the spin-off proposal by CIMC from the stock exchange, the listing of, and the permission to deal in, all the consideration shares and conversion shares. China Fire Safety Enterprise Group Limited's shareholders' meeting will be held on April 11, 2018. The transaction is expected to close by March 31, 2018. As of March 28, 2018, the expected closing date was extended to June 30, 2018. As of December 4, 2017, the Board of Directors of China International Marine Containers (Hong Kong) Limited, parent of Pteris Global Limited, approved the transaction. China International Marine's shareholders approved the transaction in the extraordinary general meeting held on February 9, 2018. Shareholders of China Fire Safety Enterprise Group Limited approved the transaction on April 11, 2018. Yunfeng Financial Group Limited (SEHK:376) acted as a financial advisor and Computershare Hong Kong Investor Services Limited acted as a transfer agent for China Fire Safety Enterprise Group Limited. RaffAello Capital Limited acted as a financial advisor for China International Marine Containers (Group) Co., Ltd. Pteris Global Limited completed the acquisition of China Fire Safety Enterprise Group Limited (SEHK:445) in a reverse merger transaction on April 23, 2018. As a result of the completion, the vendors of Pteris Global Limited together hold 55.9% stake in China Fire Safety Enterprise Group Limited. All the conditions precedent were fulfilled.