Dream International Limited (SEHK:1126) entered into a memorandum of understanding to acquire C&H Vina Joint Stock Company from C&H Co., Ltd., Tae Sub Choi and Jae Dong Shin on September 13, 2019. C&H Co., Ltd. will sell 99.8% stake and Tae Sub Choi and Jae Dong Shin will sell 0.1% stake each in C&H Vina. The payment schedule of the consideration shall be subject to mutual agreement when the parties sign a formal definitive agreement. On November 29, 2019, Dream International Limited entered into an agreement to acquire C&H Vina Joint Stock Company from C&H Co., Ltd., Tae Sub Choi and Jae Dong Shin for $11 million. Pursuant to the agreement, Dream International Limited shall pay $2 million as first installment within five business days from the date of agreement and second installment of $9 million from the date of first installment or December 27, 2019 whichever is earlier. Upon completion of the transaction, each of C&H Vina and C & H Tarps will become a wholly owned subsidiary of Dream International Limited. For the period ended December 31, 2018, C&H Vina Joint Stock Company has reported revenues of $46.59 million, profit before tax of $1.36 million and profit after tax of $1.08 million. The Directors of Dream International Limited consider that the entering into of the memorandum of understanding is fair and reasonable and in the interests of Dream International and its shareholders as a whole. The transaction is subject to certain conditions including obtaining all regulatory approvals with the relevant authorities in Vietnam and provision of true warranties. The agreements will be terminated if conditions precedent are not satisfied within three months from agreement date or parties agrees in writing to terminate the agreement prior to its expiry which is December 31, 2019. Completion shall be no later than three business days from the date on which Dream International Limited confirms its satisfaction to the conditions. Dream International Limited (SEHK:1126) completed the acquisition C&H Vina Joint Stock Company from C&H Co., Ltd., Tae Sub Choi and Jae Dong Shin for $11 million on March 31, 2020.