YTO Express (International) Holdings Limited (SEHK:6123) singed sale and purchase agreement to acquire 25% stake in OTX Logistics B.V. from T.Y.D. Holding B.V. for HKD 38 million on March 9, 2018. The consideration will be paid in cash upon completion. As on December 31, 2017, OTX Logistics had net profit after tax of €1.338 million (HKD 12.55 million), total assets of €23.65 million (HKD 221.89 million) and net assets of €11.11 million (HKD 104.26 million). The deal is subject to all necessary waivers, consents or approvals from any third party including but not limited to any consents or approvals from government authority, regulatory authority, the Stock Exchange and or the SFC and in relation to any pre-emption or similar rights under any shareholder agreements, each of Mr. de Wit and Ms. Kalshoven having entered into a new service agreement with Otx Logistics and the declaration and payment of a special dividend to OTX’s shareholders after signing of the agreement. As on March 15, 2018, Stock Exchange granted a waiver from the requirement for On Time Logistics Holdings to convene an extraordinary general meeting for the approval of entering into the sale and purchase agreement. The deal is expected to close on the fifth business day after all of the conditions precedents are satisfied. The Long Stop Date is May 5, 2018. Red Sun Capital Limited acted as the financial advisor for independent board committee and the independent shareholders of On Time Logistics Holdings Limited.