Hao Zhi International (Hong Kong) Limited signed a binding offer to acquire Bleu-Indim S.A. and Infranor Holding SA from Perrot Duval Holding S.A. (SWX:PEDU) for CHF 33.4 million on January 21, 2019. As reported on May 8, 2019, Hao Zhi International (Hong Kong) Limited signed an agreement to acquire Bleu-Indim S.A. and Infranor Holding SA from Perrot Duval Holding S.A. on May 5, 2019. Guangzhou Haozhi Industrial Co.,Ltd. will use its own funds as well as legally raised funds for the acquisition. For fiscal year ended April 30, 2018, Infranor Holding reported total assets of CHF 32.7 million, negative total common equity of CHF 1.8 million, total revenues of CHF 38.9 million and EBIT of CHF 3.1 million. For fiscal year ended April 30, 2018, Bleu-Indim reported total assets of CHF 1.5 million, total common equity of CHF 0.15 million, total revenues of CHF 0.28 million and EBIT of CHF 0.27 million. The deal is subject to the results of due diligence procedure, approval by the Chinese authorities, Chinese stock exchange, approval from overseas investment recordation from Guangdong Provincial Development and Reform Commission, approval from overseas investment recordation of the Department of Commerce of Guangdong Province and shareholder approvals of both Guangzhou Haozhi Industrial Co.,Ltd. (SZSE:300503), parent of Hao Zhi International (Hong Kong) Limited and Perrot Duval Holding S.A and Bleu-Indim S.A. and Infranor Holding SA. The transaction was also approved by Board of Directors of Perrot Duval and Guangzhou Haozhi Industrial on January 21, 2019 and May 8, 2019. As on July 10, 2019, shareholders of Guangzhou Haozhi approved the transaction. As on August 3, 2019, it was disclosed that recently, Guangzhou Haozhi received “Corporate Foreign Investment Certificate” from the Department of Commerce of Guangdong Province, having filed the foreign investment matters. The closing is scheduled for the first days of August 2019. As of July 22, 2019, the transaction’s closing is scheduled in mid-september, 2019. Wu Xinting, Wu Wenhao and Gao Lele of Nanjing Securities Co., Ltd. acted as financial advisors, Kang Xiaoyang, Zhang Zheng and Fu Yilong of Beijing Kangda Law Firm acted as legal advisors and Wu Changhua and Chen Liping of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountants for Guangzhou Haozhi Industrial Co.,Ltd. Hao Zhi International (Hong Kong) Limited completed the acquisition of Bleu-Indim S.A. and Infranor Holding SA from Perrot Duval Holding S.A. for CHF 33.7 million after deduction of the net debt of the Infranor Group on January 6, 2020.