Xiamen International Port Co., Ltd (SEHK:3378) entered into framework agreement to acquire a 20% stake in Xiamen Container Terminal Group Co., Ltd. from New World (Xiamen) Port Investments Limited for CNY 1.6 billion on June 30, 2021. The consideration is payable by XIPC to NWXP in cash within one month upon fulfilment (or waiver) of the conditions precedent to Completion. The transaction will be funded by the cash held by the Group and/or self-financing by the Xiamen port holding Group. As on September 23, 2021, It is intended that approximately 40% of the Consideration will be funded by the cash held by the Group according to the current arrangement, while the remaining amount of the Consideration will be funded by the proposed bank borrowings by the Group. For the year 2020, Xiamen Container Terminal Group Co., Ltd. reported profit after tax of CNY 460.5 million and net asset of CNY 8487.5 million. Union Gaming’s employees and CBRE’s existing Las Vegas-based gaming investment sales team led by Michael Parks will form a combined global gaming team. Bill Lerner, Union Gaming’s Co-Founder, will serve as CBRE’s Global Head of Gaming Investment Banking. Completion is subject to the satisfaction (or waiver) of the following conditions, the Sale and Purchase Agreement in connection with the transactions contemplated under the Framework Agreement having been signed and become in force and legally binding on both parties, XIPC having completed the asset valuation of the Xiamen Container Terminal as at December 31, 2020 to be appraised by a qualified independent valuer recognized by the Fujian SASAC (the “Asset Valuation”) and the filing of such report in accordance with the terms of the Framework Agreement, the necessary approvals and regulatory procedures or registration (if necessary) in connection with the equity transfer of the Xiamen Container Terminal required by the foreign exchange administration and other relevant government authorities, regulatory agencies and stock exchanges having been obtained, including but not limited to obtaining the approval of the Xiamen Container Terminal board of directors and shareholders’ approval of XIPC, etc. and the representations, warranties and undertakings given by each of XIPC and NWXP under the Framework Agreement having remained complete, true, accurate and not misleading from the date of the Framework Agreement and up until the Completion. It is expected that the net proceeds from the Proposed Disposal will be used for general working capital purpose of the Group including but not limited to redeploy capital into businesses within our core competence as well as maintaining our sustainable and progressive dividend policy. If Completion takes place on or before December 31, 2021, XIPC shall be entitled to/shall assume the profit/loss attributable to the Xiamen Container Terminal between January 1, 2021 and the date of Completion, otherwise NWXP shall be entitled to/shall assume such amount. As of October 8, 2021, all necessary conditions have been fulfilled.