Home > > Ying Hai entered into the Equity Transfer Agreements for acquisition of a PRC travel agency company

Ying Hai entered into the Equity Transfer Agreements for acquisition of a PRC travel agency company

08/26/2021| 12:33:30 PM|

The acquisition of a tourism company in the PRC is expected to bring synergy to the existing tourism business in Macau by expanding the sales network to the PRC.

Ying Hai Group Holdings Company Limited announced that, the Group entered into the Equity Transfer Agreements for acquisition of entire equity interest in Zhuhai Huanya International Tourism Co., Ltd. ("Target Company") at the purchase price of RMB1,551,641 (equivalent to approximately HK$1,861,969).

The Equity Transfer Agreements shall replace and supersede the MOU, dated 8 June 2021. According to the MOU, the Target Company involves travel business and selling air tickets and currently holds a permit to carry out travel agency in the PRC. It is also accredited as a member of the International Air Transport Association ("IATA") and is permitted to sell international air passenger transportation. The acquisition of a tourism company in the PRC is expected to bring synergy to the existing tourism business in Macau by expanding the sales network to the PRC. Further, the acquisition of a PRC tourism company would help the Group facilitate its cooperation with other PRC tourism companies and PRC hotels and thus expand its tourism business in the PRC market in the long run.

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TAGS: M&A | China
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