NVC Lighting Holding Limited (SEHK:2222) entered into sale and purchase agreement to acquire 60% stake in Blue Light (HK) Trading Co., Limited from Roman International (HK) Co., Limited for CNY 500 million on May 23, 2018. Previously on March 19, 2018, NVC Lighting Holding Limited entered into an agreement to acquire 40% stake in Blue Light (HK) Trading Co., Limited. Upon completion of both the acquisitions and related acquisition, NVC Lighting Holding Limited will hold 100% stake in Blue Light (HK) Trading Co., Limited. According to the terms of the consideration, NVC Lighting Holding Limited shall pay CNY 400 million within 10 business day after the completion and remaining CNY 100 million within 10 business days after the issuance of the 2018 audited accountants’ reports of Blue Light (HK) Trading Co., Limited and its subsidiaries and obtaining of tax clearance certificate by Roman International (HK) Co., Limited. In a related transaction subsidiary of NVC Lighting Holding Limited, Zhuhai NVC Technology Co., Ltd. entered into agreement to acquire 5% stake in Wuhu NVC Lighting E-Commerce Limited for CNY 45 million on May 23, 2018. Blue Light (HK) Trading Co., Limited reported profit after tax of CNY 121.76 million for the year ended December 31, 2017. The transaction is subject to completion of due diligence, approval of board and shareholders of NVC Lighting Holding Limited, all relevant approval, registration, permission, filing, waiver and renunciation have been duly acquired from the government authorities or any other third party and obtaining required permission and approval have been made by any government, authority or regulatory body. An independent Board committee has been established comprising all independent Non-Executive Directors to advice on the acquisition. As of June 30, 2018, the Directors of NVC Lighting Holding Limited recommend the shareholders to approve the transaction based on the recommendation of independent Board committee and advisors. As of July 18, 2018, the transaction has been approved by the shareholders of NVC Lighting Holding Limited. The completion of transaction shall take place simultaneously with the completion of previous acquisition. Completion is expected to take place on the fifth business day after all the conditions precedent having been fulfilled. The transaction is expected to record additional revenue stream for NVC Lighting Holding Limited. Gram Capital Limited acted as independent financial advisor to the independent board committee and independent shareholders of NVC Lighting Holding Limited. Deloitte & Touche Corporate Finance Limited acted as financial advisor and BDO Limited acted as accountant to NVC Lighting Holding Limited in the transaction. Jones Lang LaSalle Corporate Appraisal and Advisory Limited acted as valuer in the transaction.