Back »

China – Landing International look to go private

Posted by

Hong Kong-based Landing International’s owner Yang Zhihui has announced his intention to take Landing International Development private.

The company operates Landing Casino in Korea and Le Ambassadeurs Club in London. It is currently building Jeju Shinhwa World in South Korea in the south-western part of Jeju Island.

The takeover offer is required by the Hong Kong Takeover Code after Mr Yang bought a further 5.26 per cent stake in the company, taking its stake to 51.41 per cent.

Landing International said an Independent Board Committee had been formed to advise the independent shareholders as to whether the terms of the offer are fair and reasonable. Veda Capital Limited has also been appointed as independent financial adviser.

The company stated: “Mr. Yang is optimistic in the prospects of the Group. He considers the acquisition an opportunity to consolidate control in the company. Following completion of the offer, the Group will continue to operate its business in substantially its current state. However, Mr Yang reserves the right to make any changes that he deems necessary or appropriate to the Group’s businesses and operations to increase the value of the Group.”

Comments are closed.

Related Stories

China – Sportradar at the heart of Hong Kong’s football integrity

The Hong Kong Football Association (HKFA) has demonstrated its on-going commitment to integrity by hosting a week-long integrity programme for players...
Read More

China – VSoftCo opens Hong Kong office

VSoftCo, a specialist software development company in the global virtual sports market, announces that it has opened an Asia region office in Hong Kon...
Read More