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DL Announces Acquisition of Remaining 55% Stake in Family Office

15 Sep 2023

DL Holdings Group Limited (“DL Holdings” or the “Company”; Stock Code: 1709.HK) has unveiled its acquisition of the remaining 55% stake in DL Family Office (HK) Limited (“DL Family Office”) for HK$220 million yesterday(14 Sep). This strategic move follows the successful acquisition of a 45% stake earlier this year, establishing DL Family Office as a wholly-owned subsidiary of DL Holdings. Consequently, DL Holdings has emerged as the foremost asset management and financial services platform in Hong Kong, with a primary focus on multi-family office services.


The consideration for this acquisition, totaling HK$220 million, will be settled through a combination of cash and promissory notes, comprising HK$70 million in cash and HK$150 million in promissory notes. Importantly, this financial arrangement will not encumber DL Holdings with any cash flow constraints, ensuring the company's continued financial strength and stability.


Andy Chen, Chairman of DL Holdings Group, stated, "Three compelling factors underpin our swift move. Firstly, DL Family Office's exceptional track record and esteemed industry reputation significantly bolster and elevate our listed group's standing within the industry. Secondly, the full integration of the family office business into our parent company is expected to yield a substantial increase in our management scale, client base, revenue, and profits. Thirdly, the family office business will seamlessly synergize with our existing securities, asset management, real estate, and research institute divisions, enhancing DL's internal dynamics, reducing communication barriers, and elevating service standards for both family and corporate clients."


Throughout this year, DL Holdings Group has embarked on a series of strategic initiatives. In May, the company formalized a strategic cooperation agreement with Soochow Securities (Hong Kong). In August, DL Holdings announced its investment in and acquisition of a new integrated commercial tower in Central, subsequently named "DL Tower." Most recently, the company established the "DL Institute for New Economic Research." In the midst of prevailing global economic uncertainties, DL Holdings remains proactive, adhering to the ethos of "seizing every crisis opportunity, maintaining sensitivity and vigilance." Rooted in a long-term perspective, DL Holdings continues to explore new avenues for investment, mergers, acquisitions, and strategic collaborations on a global scale. The company is dedicated to establishing a premier asset management platform that delivers top-tier services to its family clients.

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