FAR International Holdings Group (HKG:2516) signed a non-legally binding memorandum of understanding for the proposed acquisition of an at least 60% shareholding in Fason Investment, according to a Monday filing with the Hong Kong bourse.
The target company is incorporated in the British Virgin Islands and provides logistics services in Hong Kong. A deposit of HK$1.5 million is required, with conditions for a refund. The final terms are still under negotiation.
The acquisition aims to enhance FAR International's logistics capabilities and strengthen its regional market presence.
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