FIT Hon Teng Limited Announces Major Acquisition

FIT Hon Teng Limited (HK:6088) has released an update.

FIT Hon Teng Limited has announced its indirect wholly-owned subsidiaries, FIT GmbH and FIT Voltaira, have entered into agreements to acquire the target assets of Auto-Kabel Group (AK Group) for a consideration of EUR 72.5 million, with adjustments possible at closing. The transaction, which is still subject to certain conditions, is significant enough to be classified as a discloseable transaction under the Listing Rules, requiring public reporting and announcement. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities as the completion of the acquisition is not yet guaranteed.

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