Oceanic World Sub Corp entered into Letter of Intent to acquire Coland Holdings Limited (TSEC:4144) for TWD 2 billion on July 27, 2020. Oceanic World Sub Corp will pay TWD 27 per share for the acquisition of Coland Holdings Limited. Under the terms of the transaction, Coland Holdings Limited will become a subsidiary of Oceanic World Sub Corp. Transaction is subject to shareholders approval of Coland and De listing of shares on Taiwan stock Exchange. As on September 11, 2020, date of Delisting and termination of public company status is expected to change on October 30, 2020. As on September 11, 2020, shareholders of Coland approved the transaction. On September 14, 2020, the transaction is approved by Board of Directors of Coland Holdings Limited. As on September 17, 2020, TWSE approved the termination of exchange-listed trading. As on October 8, 2020, Financial Supervisory Commission approved the termination of public company status of Coland Holdings Limited from October 30, 2020. The tentative payment date of consideration is changed from November 6, 2020 to November 4, 2020. Transaction is expected to complete by October 30, 2020.