Beckman Coulter Hong Kong Ltd. entered into an agreement to acquire 60% in PALL-AUSTAR Lifesciences Limited from Austar Lifesciences Limited (SEHK:6118) for approximately CNY 220 million on February 11, 2021. The Consideration will be paid by the Purchaser to the Vendor in cash at Completion, subject to certain withholding and deductions in accordance with the SP Agreement. If the closing net cash on the Final Closing Balance Sheet is positive, Beckman Coulter Hong Kong Ltd. shall pay to the Austar Lifesciences an amount equal to 60% of such amount, whereas if such closing net cash amount is negative, the Austar Lifesciences shall pay to the Beckman Coulter Hong Kong Ltd. an amount equal to 60% of such amount; if closing net working capital on the Final Closing Balance Sheet is less than consideration, the Austar Lifesciences shall pay to the Beckman Coulter Hong Kong Ltd. the amount equal to 60% of such excess; and if closing net working capital on the Final Closing Balance Sheet exceed consideration, the Beckman Coulter Hong Kong Ltd. shall pay to the Austar Lifesciences the amount equal to 60% of such excess. Post completion, Austar Lifesciences Limited will exit from PALL-AUSTAR Lifesciences. As of December 31, 2020, PALL-AUSTAR Lifesciences reported total and net assets of CNY 79.6 million and CNY 36.4 million. PALL-AUSTAR Lifesciences had revenues of CNY 44.23 million for the year ended December 31, 2020. Standard Fortune Holdings Limited, which holds 65% stake in Austar Lifesciences Limited has approved the deal. The deal is conditional upon PALL-AUSTAR Lifesciences re-paying its due loans to Austar Lifesciences Limited, approval from Standard Fortune Holdings Limited etc. If any of the conditions precedent shall not have been fulfilled or waived he Purchaser shall pay to the Vendor an amount equal to the Reimbursement Amount. As of March 22, 2021, the shareholders of Austar Lifesciences Limited (SEHK:6118) have approved the transaction. The long stop date of the transaction is September 30, 2021. It is expected that the proceeds from the Disposal will be used for general working capital and/or future development of the Group.