M&A Deal Summary

International Entertainment Acquires Fortune Gate Overseas

On November 23, 2004, International Entertainment acquired business services company Fortune Gate Overseas from Cross-Growth for 850M HKD

Acquisition Highlights
  • This is International Entertainment’s 1st transaction in the Business Services sector.
  • This is International Entertainment’s 0th largest (disclosed) transaction.
  • This is International Entertainment’s 1st transaction in Virgin Islands (British).

M&A Deal Summary

Date 2004-11-23
Target Fortune Gate Overseas
Sector Business Services
Buyer(s) International Entertainment
Sellers(s) Cross-Growth
Deal Type Divestiture
Deal Value 850M HKD

Target

Fortune Gate Overseas

Virgin Islands (British)
Fortune Gate Overseas Limited is an investment holding company. Fortune Gate Overseas Limited formally operated as a subsidiary of International Entertainment Corp.

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Buyer(S) 1

Buyer

International Entertainment

Hong Kong, China

Category Company
Founded 1998
Sector Leisure
Employees346
Revenue 207M HKD (2023)
DESCRIPTION

International Entertainment is an entity that engages in operation of hotel business; leasing of investment properties for casino and ancillary leisure and entertainment operations. International Entertainment was founded in 1998 and is based in Hong Kong, China.


DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Virgin Islands (British)) 1 of 1
Year (2004) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-16 Arc of Triumph Development

Macau

Arc of Triumph Development Co.,Ltd engages in land development business in Macau.

Buy HK$739M

Seller(S) 1

SELLER

Cross-Growth

China

Category Company
Sector Business Services
DESCRIPTION

Cross-Growth Co., Ltd a company wholly-owned by Chow Tai Fook Enterprises Ltd.


DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Virgin Islands (British)) 1 of 1
Year (2004) 1 of 1