Fortune Access International Investment Limited entered into an agreement to acquire Fore Head Limited from HMV Digital China Group Limited (SEHK:8078) for $34.8 million on June 30, 2018. The cash portion of the consideration $13.8 million shall be paid by cash by Fortune Access International Investment Limited, 10% of the consideration will be paid by the Fortune Access International Investment Limited to HMV Digital China Group Limited within 30 business days after the date of signing of the agreement, and the remaining balance of the cash portion of the consideration is to be paid by Fortune Access International Investment Limited within 90 calendar days after the date of signing of the agreement. The non-cash portion of the consideration, which is $21 million being the 81% of Sky Sparkle Limited will be paid upon completion of assignment deed and transfer documents which is to be settled immediately prior to completion and upon satisfaction of conditions precedent. Fore Head Limited reported for the year ending June 30, 2017, reported net loss before taxation of HKD 0.003 million, net assets of HKD 0.01 million and net loss after taxation of HKD 0.003 million. The transaction is subject conditions including (if required) the passing of the resolution by the shareholders of Issuer in a general meeting approving the agreement and the transactions, the assignment deed having been duly executed by Fortune Access International Investment Limited and completion of due diligence by Fortune Access International Investment Limited. The long stop date for the transaction is September 30, 2018. Fortune Access International Investment Limited cancelled the acquisition of Fore Head Limited from HMV Digital China Group Limited (SEHK:8078) on March 25, 2019.