7Road Holdings Limited (SEHK:797) entered into a sale and purchase agreement to acquire Well Top International Limited, Young Shine International Limited, Happy Key International Limited and Locojoy HongKong International Limited for CNY 1.2 billion on November 7, 2020. As a part of transaction, 7Road Holdings Limited will acquire 100% stake in Well Top International Limited for CNY 707.9 million, of which 301.7 million will be paid in cash and remaining 406.2 million shares, 100% stake in Young Shine International Limited for CNY 235.7 million, of which 110.5 million will be paid in cash and remaining 135.2 million shares, 100% stake in Happy Key International Limited for CNY 179.1 million, of which 76.3 million will be paid in cash and remaining 102.8 million shares and 5.15% stake in Locojoy HongKong International Limited for CNY 61 million, of which 26 million will be paid in cash and remaining 35 million in shares. Cash consideration and share consideration will be paid in three bathes as specified in agreement. Post transaction, Locojoy HongKong will become indirect wholly-owned subsidiary of 7Road Holdings Limited. Transaction is subject to approval of shareholders of 7Road Holdings Limited and other customary closing conditions as specifies in agreement. As of November 30, 2020, 7Road Holdings is still in the course of preparing and finalizing certain information of Well Top International Limited, Young Shine International Limited, Happy Key International Limited, Locojoy HongKong International Limited and the OPCO Group to be included in the Circular. It is currently expected that the Circular will be dispatched to the Shareholders on or before Wednesday, December 30, 2020. It is currently expected that the circular will be dispatched to the shareholder on or before February 26, 2021. As of July 9, 2021 certain conditions precedent have not been fulfilled (or waived) by the Extended Long Stop Date and no agreement was reached by the Company and the Vendors to further extend the Extended Long Stop Date. As of March 1, 2021 the transaction is expected to complete on March 31, 2021. Completion will take place on the fifth business day after the date of fulfillment (or waiver) of all conditions precedent under the agreement. 7Road Holdings Limited (SEHK:797) cancelled the acquisition of Well Top International Limited, Young Shine International Limited, Happy Key International Limited and Locojoy HongKong International Limited on July 9, 2021.