Citychamp Dartong Company Ltd has been acquired by Fujian Fengrong Inv. Co Ltd

China Haidian Holdings Limited (China Haidian), through its wholly-owned subsidiary, Starlex Limited, has sold a 4.6% stake in Citychamp Dartong Company Ltd (Citychamp) to Fujian Fengrong Inv. Co Ltd (Fujian) for US$48.6 million.

Citychamp is a property development and investment company. It also manufactures and sells enameled copper wires in China.

China Haidian, incorporated in the Cayman Islands and with limited liability, manufactures and distributes watches and timepieces.

Oaklins' team in Hong Kong acted as financial advisor to the seller in this transaction.