HRG München Holdings GmbH agreed to acquire Absolute Hotel Services Co. Ltd. and Absolute Hotel Services Hong Kong Limited from U City Public Company Limited (SET:U) for €6 million on August 25, 2021. Under the terms, HRG München will acquire 1 million shares representing 40% stake in Absolute Hotel Services Co. Ltd. and 680,000 shares representing 9.81% stake in Absolute Hotel Services Hong Kong Limited. Post completion, U City will hold 10% stake in Absolute Hotel Services Co. Ltd. and 2.45% stake in Absolute Hotel Services Hong Kong Limited. The board of U City Public Company approved the transaction.