Xie Zhi Xian and Chan Yuk Ming agreed to acquire a 12.62% stake in Evergreen International Holdings Limited (SEHK:238) from New Horizon Capital III, a fund managed by New Horizon Capital for HKD 71.9 million on July 4, 2017. Under the terms of transaction, Xie Zhi Xian will acquire 91.3 million shares, representing 9.62% stake, for HKD 54.8 million and Chan Yuk Ming will acquire the additional 28.5 million shares, representing 3% stake, for HKD 17.1 million in Evergreen International Holdings Limited. The transaction is expected to close in July 2017. Christopher Betts of Skadden, Arps, Slate, Meagher & Flom LLP acted as a legal advisor for New Horizon Capital.