News: Deals: Reports

Million Alliance International Ltd & Gay Giano International Group Ltd	Update Date: 06/17/08
Date Announced: 05/13/08
Value (million $USD): 65.9 million U.S. Dollar 513.8 million Hong Kong Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	05/13/08
Date Originally Announced	05/13/08
Format	Merger	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	Hong Kong Stock Exchange; Unspecified Regulatory Auth.
Value	65.9 million U.S. Dollar 513.8 million Hong Kong Dollar	Advisor Fees	n/a

SYNOPSIS

HONG KONG - Gay Giano International Group Ltd agreed to acquire the entire share capital of Million Alliance International Ltd, a road and highway construction services provider, for 513.822 mil Hong Kong dollars ($65.907 mil US). The consideration was to consist of HK$27.925 mil ($3.582 mil) in cash and HK$485.897 mil ($62.326 mil) in convertible bonds. The transaction was subject to shareholders' and regulatory approvals and to due diligence review.

TARGET
Name	Million Alliance International Ltd
Industries	Bridge, tunnel, and elevated highway construction; Water, sewer, pipeline & utility line construction; Heavy construction, nec; Concrete work; Special trade contractors, nec; Inspection and fixed facilities for motor vehicles; Real estate investment trusts
City	n/a
State	n/a
Nation	Hong Kong
Incorporated in	n/a
Public Status	Private
Business Description	Million Alliance International Ltd provides road and highway construction services. The company is headquartered in Hong Kong. The company is engaged in the development and operations of highways and property investment in China.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Gay Giano International Group Ltd (Hong Kong : 0686)
Industries	Women's accessory and specialty stores; Men's and boys' clothing and furnishings; Miscellaneous apparel and accessory stores; Land subdividers and developers, except cemeteries; Offices of holding companies, nec
City	New Territories
State	n/a
Nation	Hong Kong
Incorporated in	n/a
Public Status	Public
Business Description	Gay International Group Ltd, located in New Territories, retails fashion apparel and complementary accessories. Other activities include provision of information technology services, property investment and investment holding. The Group operates in Hong Kong, China and the British Virgin Islands. The company was founded in 1980.
Advisors	NULL
Acquiror Sales	16.8 million U.S. Dollar 131.4 million Hong Kong Dollar

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