U Banquet Group Holding Limited has acquired Billion Treasure Property Dev.

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.