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Infinity Entertainment Group acquires stake in dragon-i, Cassio and Tazmania Ballroom to form a new strategic alliance in Hong Kong's nightclub industry

HONG KONG, June 30, 2022 /PRNewswire/ Infinity Entertainment Group Limited ("IEG", or "the Buyer"), an exempted company incorporated in the Cayman Islands with limited liability is the investment holding company for entertainment and F&B businesses of LC Capital Group, which is headquartered in Hong Kong, announced today that it has entered into a binding term sheet with Mr. Gilbert Yeung and associates ("the Sellers") to acquire an equity stake in dragon-i, Cassio as well as Tazmania Ballroom. Each of the businesses are iconic to Hong Kong's nightlife scene with dragon-i being an institution in the industry and Cassio recently having undergone a major refurbishment led by famed interior designers Cedrive and Nicholas Hervet. The target companies are incorporated under the laws of Hong Kong ("the Targets"). The completion of acquisition will take place in stages, 9 months after the date of signing a Sale and Purchase Agreement ("SPA ....

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