CTF Services' (HKG:0659) wholly owned subsidiary, Valiant Voice, agreed to acquire equity interests in uSmart Inlet Group and Genius Professional Enterprises for a total consideration of $131.8 million, according to a filing with the Hong Kong bourse on Tuesday.
The acquisitions, funded through internal resources, involve multiple sellers, including Genius, Country Magic, Sinowise Holdings, and individual stakeholders, and will be completed in stages.
Valiant Voice will acquire 43.93% of uSmart and its subsidiaries, including the shares held by Genius.
The target group is engaged in the investment and wealth management services sector.
CTF Services' indirect majority shareholder, Chow Tai Fook Holdings, holds a 10.85% stake in the target group.
The company's shares were up 5% in early trading.
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