Carnival Group International Holdings Limited (SEHK:996) signed a letter of intent to acquire 40% stake in E-Da Development Corp. from E United Group on July 3, 2014. The transaction is subject to further negotiations of the terms and entering into formal share and purchase agreement. In related transactions, Carnival Group International Holdings Limited (SEHK:996) signed letter of intent to acquire minority stakes in E-Da Royal Hotel Co., Ltd., Skylark International Hotel Co., Ltd. and E-DA Metropolis Enterprise Co., Ltd.

As on January 27, 2015, Carnival Group International Holdings Limited (SEHK:996) entered into a term sheet to acquire 81% of E-Da Development Corp. from E United Group for TWD 4.7 billion. The consideration for the above shall be satisfied by 70% in cash and 30% by the issuance of 3 year convertible notes of Carnival Group International Holdings. The transaction is subject to entering formal share and purchase agreement. The capital shall be raised by the shareholders proportioned to their respective holdings.

Carnival Group International Holdings Limited (SEHK:996) cancelled the acquisition of 81% of E-Da Development Corp. from E United Group on July 27, 2015.