DL Holdings GP (01709) plans to acquire a financial planning company in Singapore.

DL HOLDINGS GP (01709) announced that on September 19, 2024, the company entered into a non-legally binding memorandum of understanding with the seller regarding a potential acquisition. After the due diligence results of the target company are accepted, the company will consider further negotiations with the seller to acquire a certain number of shares of the target company from the seller and other shareholders of the target company (referred to as "such seller"). The preliminary equity valuation of the target company is expected to be around $50 million. It is reported that the target company is a limited company registered in Singapore. As of the date of this announcement, the seller owns approximately 68.6% of the target company. The target company is a comprehensive financial services company established in 2008, headquartered in Singapore, with offices in Dubai, providing comprehensive multi-family office services and financial solutions to global financial companies, high-net-worth individuals, and institutional clients. According to the information provided by the target company and the seller, the target company's assets under management/advisement (AUM) as of the date of this announcement is approximately $26 billion, serving over 400 clients. The announcement states that with the large AUM and client base of the target company in the Asia-Pacific region, the potential acquisition will enable the group to explore and leverage the synergies between the company and the target company in multi-family office and financial services businesses. It will complement the group's existing operations, business layout, geographical coverage, and client base, reinforcing its current advantageous position, generating synergies, and accelerating the group's development. After the potential acquisition is completed, it is expected that the company and the target company will work closely together, allowing the company and its clients to immediately enter the Southeast Asian and Middle Eastern markets, while enabling the target company and its clients to enter the Asian, Japanese, and North American markets, further expanding the business coverage and product range available to post-merger clients.