SY Holdings Group Limited (HK:6069) has released an update.
SY Holdings Group Limited has entered into an agreement to acquire all the issued shares of a target company for a closing consideration of RMB300 million, with an additional contingent consideration of up to RMB500 million based on performance targets. The deal, which will make the target company an indirect wholly-owned subsidiary of SY Holdings, is classified as a discloseable transaction under Hong Kong’s Listing Rules and may influence the company’s share dealings. The financial results of the acquired company will be consolidated into SY Holdings’ financial results upon completion.
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