Chinese Food and Beverage (08272) said it entered into two memoranda of understanding in relation to the proposed acquisition of Italian restaurants located in Wanchai and Tsim Sha Tsui, Hong Kong as well as a Chinese restaurant located in Wuhan, Hubei, PRC.
The Italian restaurant in Wanchai is a Recommended Restaurant in Michelin Guide Hong Kong & Macau 2013 and won the Outstanding Greater China Design award in 2011. The Italian restaurant in Tsim Sha Tsui won the Top 10 Restaurants Awards in the category of Italian - Casual in WOM Guide 2014.
One of the potential vendors is a renowned property and hotel management group with a long history having established in Hong Kong in 1950s and is principally engaged in property rental, hotels and serviced apartments, food and beverage operation and travel operation. Its shares are listed on the Main Board of the Stock Exchange.
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