Vala (HKG:2051) struck a conditional settlement to unwind its 2017 acquisition of Shouhui Kaizhuo after it lost control of the SK Group a few years ago, according to a Hong Kong bourse filing Thursday.

Shares of the credit card management firm fell over 3% in morning trade Friday.

Under the settlement, the firm will return the nearly 54% interest in the business registered under Yang Fan and his related entities in exchange for retaining a nearly 13% economic benefit.

Yang will also repay 8.1 million yuan of the 101.4 million yuan in outstanding borrowings. Of the remaining 93.3 million yuan, 86.8 million yuan will be waived off and 6.5 million yuan will be settled via a transfer of part of Vala's economic benefit interest in Shouhui Kaizhuo.

Meanwhile, Yang will use his best efforts to sell Shouhui Kaizhuo, which holds a payment license in China. If the sale proceed exceeds 75 million yuan and Vala receives sums in proportion to its economic benefit, Yang will receive a cash bonus of 5.8 million yuan from Vala, the firm said.

The settlement is subject to approval of Vala's independent shareholders.