China Jishan Holdings Limited (SGX:J18) entered into a non binding term sheet to acquire Shaoxing Naked Lake Property Developing Co., Ltd and Shaoxing Naked Valley Resort Developing Co., Ltd from Zhejiang Jishan Holdings Group Co., Ltd. for CNY 60 million in cash on September 29, 2016. The transaction is subject to approval of definitive agreement, governmental and regulatory approval, third party approval, shareholder approval of China Jishan Holdings Limited at an extraordinary general meeting to be convened and consummation of due diligences. China Jishan Holdings Limited (SGX:J18) cancelled the acquisition of Shaoxing Naked Lake Property Developing Co., Ltd and Shaoxing Naked Valley Resort Developing Co., Ltd from Zhejiang Jishan Holdings Group Co., Ltd. on September 29, 2017.