Dang Yanbao made an offer to acquire the remaining 25% stake in Mastercraft International Holdings Limited (SEHK:3966) for HKD 180 million in cash on January 6, 2016. Dang Yanbao will pay HKD 1.5 in cash per share for 120 million shares of Mastercraft International. Dang Yanbao entered into a loan facility wherein Bank of Shanghai (Hong Kong) Limited will loan HKD 185 million. Dang Yanbao will finance the offer from this loan facility. Dang Yanbao intends to maintain the listing of the shares on the stock exchange following the close of the offer. Mastercraft International established an Independent Board Committee comprising Hau Chi Hung, Lai Kin, Jerome and Tang Thomas Bong to make a recommendation to the shareholders in respect of the offer. Post transaction, executive directors of the Mastercraft will resign with effect from the earliest time permitted under the Takeovers Code. The offeror intends to nominate new directors to the board of directors of Mastercraft. An independent financial advisor will be appointed to advise the Independent Board Committee. The Board of Mastercraft recommended its shareholders to vote in favor of the transaction. The closing date of the offer is February 19, 2016.

Huatai Financial Holdings (Hong Kong) Limited acted as the financial advisor to Dang Yanbao. Deloitte Touche Tohmatsu Hong Kong SAR acted as an accountant and Donvex Capital Limited acted as financial advisor for Mastercraft. Nuada Limited was appointed as financial advisor for to the independent Directors of Mastercraft. Joelle Lau of Jones Day acted as legal advisor for Dang Yanbao.

Dang Yanbao cancelled the acquisition of the remaining 25% stake in Mastercraft International Holdings Limited (SEHK:3966) on February 19, 2016. As of February 19, 2016, Dang Yanbao did not receive any valid acceptances and did not revise or extend the offer.