Country Garden Property Services HK Holdings Company Limited signed memorandum of understanding (MOU) to acquire 65.03% stake in Sichuan Languang Justbon Services Group Co., Ltd. (SEHK:2606) from Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. for CNY 4.8 billion on February 23, 2021. As per the MOU, Country Garden Property Services HK Holdings Company intends to acquire 115.09 million H shares at CNY 42.1105 per share. Post completion, Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. will hold no H shares in Sichuan Languang Justbon Services Group Co., Ltd. while it will retain 0.75 million domestic shares. As on March 11, 2021, the parties entered a supplemental MOU to acquire 0.75 million domestic shares of Sichuan Languang Justbon Services Group Co., Ltd. along with its 115.09 million H shares at a price of CNY 42.8546 per H share or per domestic share. And the purchaser shall pay a deposit of CNY 1.99 million to Sichuan Languang Hejun and Sichuan Languang Hejun shall execute a share charge over 106,861,296 H shares of Sichuan Languang Justbon Services Group Co., Ltd. in favor of purchaser. Detailed terms of the transaction are still subject to negotiation and finalization. From the date of the MOU to March 31, 2021, the Country Garden Property Services HK Holdings Company shall have the right to exclusivity regarding the transaction. During the exclusivity period, Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. is required to seek the Country Garden Services Holdings Company Limited's consent before providing information or making an offer or invitation to or conducting any discussion with any third party, regarding the transfer of securities by or security transactions of the H shares or domestic shares held by Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. Country Garden Property Services HK Holdings Company Limited signed a share transfer agreement to acquire 65.03% stake in Sichuan Languang Justbon Services Group Co., Ltd. (SEHK:2606) from Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. on March 22, 2021. As on April 9, 2021, Country Garden Property Services HK Holdings Company Limited entered into an supplement agreement to amend terms regarding completion of transaction is two tranches. Pursuant to the supplemental agreement, one date of return of deposit form seller to the offeror, offeror agreed to procure partial release and discharge of 85,861,296 H shares under share charge and the first tranche shares shall be transferred by seller at a consideration of CNY 4.032 billion(First tranche); within 5 business days of the first tranche completion, the offeror agreed to procure release of the second tranche shares which is 21 million H shares under share charge and it shall be transferred at a consideration of CNY 899.9 million(Second tranche); and the offeror and seller shall commence transfer of 0.75 million domestic shares on same day of second tranche completion. As on April 13, 2021, Country Garden Property Services HK Holdings Company Limited completed first tranche acquisition of 94,090,200 H shares, representing 53.2% stake, comprising 85,861,896 H shares released and discharged under the share charge and 8,228,904 H shares not under share charge. in Sichuan Languang Justbon Services Group Co., Ltd. from Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. As on April 15, 2021, transfer of 0.75 million domestic shares were completed. As on April 15, 2021, offeror holds approximately 53.25% stake in entire equity interest in Sichuan Languang Justbon Services Group. Gram Capital has been appointed as the independent financial adviser to advise the independent board committee of Languang Justbon and provided fairness opinion. J.P. Morgan Securities (Asia Pacific) Limited acted as financial advisor to Country Garden Property Services HK Holdings Company Limited and Huatai International Financial Holdings Company Limited acted as financial advisor to Sichuan Languang Development Co., Ltd. v acted as transfer agent for both the parties. Raymond Oh and Carrie Li of Sidley Austin LLP acted as legal advisors to Country Garden Services Holdings Company Limited. Country Garden Property Services HK Holdings Company Limited completed the acquisition of 65.04% stake in Sichuan Languang Justbon Services Group Co., Ltd. (SEHK:2606) from Sichuan Blu-ray Hejun Industry Co., Ltd.., Ltd. on April 16, 2021. After the completion of this transaction, Sichuan Blu-ray Hejun Industry Co., Ltd. no longer holds shares in Sichuan Languang Justbon Services Group Co., Ltd, and Sichuan Languang Justbon Services Group Co., Ltd is no longer included in the scope of the company's consolidated statements