P.B. GROUP plans to acquire a 52% stake in DaShiJie P.B. Film and Television Cultural Industry Group
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P.B. GROUP announced plans to acquire a 52% stake in Da Shijie P.B. Film and Cultural Tourism Industry Group for a total consideration of HKD 5,200. The joint venture is 48% owned by P.B. No. 3 Capital Holdings Limited and 52% owned by Huaxia Film. As the board believes that the current time is not optimal for development, it has decided to terminate the expansion of the cultural tourism industry in China. Upon completion of the acquisition, the joint venture and operating company will become wholly-owned subsidiaries of P.B. GROUP, and their financial performance will be consolidated into the group's financial statements
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