Huabao International (HKG:0336) units Nocton and World Concept agreed to acquire 100% of PT. Broad Far Indonesia for 90 million in cash.
Nocton will acquire a 99% stake for 89.1 million yuan, while World Concept will acquire the remaining 1% for 900,000 yuan, according to a Friday Hong Kong bourse filing.
The deal will be funded by the group's internal resources.
Separately, Huabao unit Chemactive agreed to terminate its existing framework agreement with Broad Far effective Sept. 25, with no termination fee payable.
Another unit, Dragon Focus, entered into a new framework agreement under which Huabao subsidiaries may provide tobacco processing and related services to Broad Far and its associates through Dec. 31, 2028.