Pandora A/S (CPSE:PNDORA) entered into an agreement to acquire majority assets in China from Oracle Investment (Hong Kong) Limited on February 17, 2015. The acquisition is part of the joint distribution agreement between Pandora and Oracle Investment for joint distribution of PANDORA jewellery in China from July 1, 2015 to December 31, 2018. The initial payment to Oracle for the entire agreement is expected to be approximately HKD 120 million. The total payment will be in the range of HKD 200-HKD 500 million dependent upon the realised revenue in 2018. The agreement is subject to certain conditions to be fulfilled. The assets are expected to be purchased on July 1, 2015. Ji Zou, Bo Yan, Liwei Cao, Will McAuliffe and Ben Crawford of Allen & Overy LLP acted as legal advisors to Pandora.

Pandora A/S (CPSE:PNDORA) cancelled the acquisition of majority assets in China from Oracle Investment (Hong Kong) Limited on February 17, 2016.