Hon Kwok Land Investment Company, Limited entered into the MOA to acquire 50% stake in Time Trade Global Limited from S E A Holdings Limited for approximately HKD 390 million.

Hon Kwok Land Investment Company, Limited (SEHK:160) entered into the MOA to acquire 50% stake in Time Trade Global Limited from S E A Holdings Limited (SEHK:251) for approximately HKD 390 million on December 23, 2022. The consideration of approximately HKD 390 million will be paid by paying HKD 50 million upon signing of the MOA, and approximately HKD 340 million plus $1(HKD 7.8) shall be paid on the date of Completion. As of November 30, 2022, total assets and net liabilities of Time Trade Global were approximately HKD 1.2 billion and HKD 0.3 million respectively.

The deal is subject to post completion adjustments. The transaction is expected to be completed on or before January 30, 2023.