Hong Kong listed Landing International Development Limited says it is no longer pursuing the potential acquisition of a company engaged in gaming business in the Philippines.
The announcement, first made on May 4, 2017, stated that Landing International had “entered into a non-legally binding term sheet with a potential vendor for the acquisition of a target company which engages in gaming business in the Philippines.”
It did not specify the company being targeted for acquisition.
Since then however, the company said it had obtained certain preliminary legal advice on foreign investment in gaming business in the Philippines and has decided to further review and consider the feasibility in investing in gaming business in the Philippines as a foreign investor.”
“The Company has accordingly terminated all relevant discussions with the potential vendor.” said the company in a filing on Saturday filing.