Texhong Group partially unwinds Vietnam asset acquisition

Texhong International Group Limited (HKEX:2678) announced a supplemental announcement regarding the partial unwinding of its acquisition of certain assets in Vietnam. The move follows an initial announcement made on March 24, 2025. The returned consideration to Texhong is estimated at US$13.4 million, calculated based on generated fees, accrued operating costs, and relevant interest. This figure is derived from subtracting the value of Land Lot 2A (US$7.1 million as of September 30, 2022) and the value of utility assets (US$26.2 million) from the initial consideration paid (US$43.7 million). An additional US$3.0 million consisting of relevant interest and fees related to the provision of utilities will be included in the returned consideration. The unwinding is in accordance with the terms of the asset purchase agreement and the company states it will not affect any other information contained in the March announcement.