S E A Holdings Limited (SEHK:251) entered into a share purchase agreement to acquire 33 Old Broad Street Investment Company Limited from Evans Randall Investors Limited for approximately £260 million on May 15, 2017. Under the terms, 2 shares, representing the entire issued share capital of 33 Old Broad Street Investment Company Limited, will be acquired. The consideration which is subject to adjustments, shall be settled as, on the date of the agreement, payment in cash a deposit of £26 million. At completion, payment of an amount equal to the estimated consolidated net asset value of 33 Old Broad Street Investment Company Limited ('Estimated NAV') less the deposit subject to certain adjustments specified in the agreement. After completion and on or before the date falling five business days after the date on which the consolidated net asset value of 33 Old Broad Street Investment Company Limited as shown in the completion accounts ('Final NAV') becomes final and binding, if the Final NAV is greater than the Estimated NAV, an amount equal to the amount of the excess in cash on a pound for pound basis will be paid; or if it is less than the Estimated NAV, an amount equal to the amount of the shortfall in cash on a pound for pound basis will be paid. Additionally, by February 15, 2019, a further amount of £0.51 million in cash will be paid, subject to the occurrence of certain events. The consideration will be funded from existing cash resources and a term loan facility in the maximum principal amount of £169 million from a bank. If the agreement is terminated by the seller due to the default of the buyer, then the deposit shall be forfeited to the seller whereas if the agreement is terminated by the buyer due to the default of the seller, then the deposit shall be returned to the buyer. For the year ended March 31, 2017, 33 Old Broad Street Investment Company Limited had net profit after tax of £1 million and unaudited net asset value of £67 million. The transaction is expected to complete on or before July 17, 2017. CBRE acted as an advisor to Evans Randall Investors Limited. Paul Hastings acted as legal advisor to Evans Randall. Capital Real Estate Partners acted as real estate advisor for SEA Holdings. S E A Holdings Limited (SEHK:251) completed the acquisition of 33 Old Broad Street Investment Company Limited from Evans Randall Investors Limited on August 21, 2017.