HNA Group (International) Asset Management Company Limited entered into a share purchase agreement to acquire 41.97% stake in C-QUADRAT Investment AG (WBAG:C8I) on May 3, 2017. At closing, HNA will contribute the C-QUADRAT shares acquired from the core shareholders to Cubic (London) Limited, which will issue new shares to HNA Group. Cubic will also increase its share capital and issue new shares to HNA and the core shareholders will also contribute their remaining C-QUADRAT shares to Cubic, which will issue new shares to Alexander Schütz, Thomas Riess, Klemens Hallmann, Q Capital AG and the Star Trust, the Lillo Blu Trust und the Viggi Trust.

As a result of the implementation of transactions, HNA will hold approximately 74.8% in Cubic and Cubic will hold more than 98% in C-QUADRAT. San Gabriel Privatstiftung, T.R. Privatstiftung, Hallmann Holding International GmbH, Q-Cap Holdings Ltd. and Laakman Holding Ltd. would hold approximately 25.2% of the shares and the voting rights in Cubic. The closing of these transactions relating to the shares is subject to certain conditions precedent; inter alia, the non-objection by the Austrian Financial Market Authority, approval of Austrian Competition Authority and Central Bank of Armenia. Closing of these transactions can take place at May 31, 2017 at the earliest and the long-stop date for closing is December 3, 2017. As per an amendment dated December 6, 2017, the expected closing and the long stop date was changed June 30, 2018. As of December 21, 2017, Austria's Financial Market Authority approved the deal.

Christian Herbst, Peter Feyl, Maximilian Lang, Peter Feyl, Matthias Pressler and Sascha Schulz of Schoenherr acted as the legal advisors to Cubic and the sellers.

HNA Group (International) Asset Management Company Limited completed the acquisition of 41.97% stake in C-QUADRAT Investment AG (WBAG:C8I) on April 5, 2018. The regulatory clearance has been granted.