Summary by Moomoo AI
AMBO HOLDINGS ANNOUNCED ON 21 MAY 2024 THAT ITS SUBSIDIARIES SJM INVESTMENT AND AMBO CATERING HAVE ENTERED INTO A TRANSFER AGREEMENT WITH VENDOR NEW YAHOO PARTNERS AND MACAU ENTERTAINMENT TO ACQUIRE ALL EQUITY INTERESTS IN NYH EUROPE AND NYH ITALY. The total cost of the transaction is MOP 32,420,658 (approximately HK$31,476,367), of which MOP 32,370,658 will be compensated by offset and the remaining 50,000 MOP will be paid in cash. The acquisition made the target company a subsidiary of AMBO Holdings and incorporated its financial condition and performance into the financial statements of AMBO Holdings. The transaction is considered to be a connected transaction but is exempt from compliance with the Circular and Independent Shareholder Approval requirements as the applicable percentage is less than 5%. The Board considers the transaction to be beneficial for the Group to optimise its catering services and to enhance the Group's flexibility and control over its catering business.
