Vista Group International Limited (NZSE:VGL) entered into agreement to acquire additional 14.5% stake in Vista Entertainment Solutions Limited from Beijing Weiying Times Technology Co., Ltd. for CNY 72.7 million on December 20, 2019. The initial cash consideration will include cash payments of CNY 26.3 million and $5.2 million (CNY 36.4 million). Further cash of CNY 10 million will be payable 12 months after completion. Vista Group have paid a deposit of CNY 2 million to WePiao, which is included within trade and other receivables. This deposit is fully refundable should an adverse ruling be obtained from the regulators. Should the acquisition complete, the consideration payable will be reduced by this deposit. Consideration for this transaction is to be funded through a combination of existing cash resources and an enhanced ASB revolving credit facility of NZD 41 million (approximately CNY 190 million). As part of transaction Vista Group International Limited will have a controlling stake of 62% in Vista Entertainment Solutions Limited. The transaction is subject to approval from Chinese regulatory authorities, which are expected to be received during the first half of 2020. Vista Group International Limited (NZSE:VGL) cancelled the acquisition of additional 14.5% stake in Vista Entertainment Solutions Limited from Beijing Weiying Times Technology Co., Ltd. on March 20, 2020. Vista Group may revisit a potential future transaction in respect of Vista China but only once the impact of the COVID-19 pandemic is fully understood.