U Banquet Group Holding Limited, based in China, has acquired Billion Treasure Property Development Limited, based in Hong Kong, for US$0.63 million.
U Banquet Group Holding Limited is a full-service Chinese restaurant chain operator in Hong Kong specializing in the provision of one-stop Chinese wedding banquet services. The company operates its restaurants under U Banquet’ and Hot Pot Cuisine brands.
Billion Treasure Property Development Limited is wholly-owned by Messrs. Cheung Ka Ho and Cheung Ka Kei. The company is principally engaged in property investment for rental, investment holding and provision of wedding services under the U Weddings brand.
Oaklins' team in Hong Kong acted as financial advisor to the buyer in this transaction.
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