Glonghui, December 21|Macau Lijun (01680.HK) announced that on December 20, 2023, MLD Laos (as the seller), a wholly-owned subsidiary of the company, signed an agreement with Mr. Shundo Yoshinari (as the buyer). According to this, the buyer agreed to acquire all of the shares in the target company; the target company is an indirect subsidiary of the company, wholly owned by Savan Legend (the company operates in Laos). The initial cost is US$39 million (subject to adjustment).
The target company (i.e. MLD Resorts Laos Limited) is a limited company incorporated in the British Virgin Islands. It is an indirect wholly owned subsidiary of the company, mainly engaged in investment holding and, in particular, the holding company of Savan Legend. Savan Legend mainly operates casinos and hotels in Laos.