BRIEF-China Healthwise Holdings says entered into S&P agreement to acquire Ace Season Holdings Limited

March 29 (Reuters) - China Healthwise Holdings Ltd

:

* Company and vendor entered into s&p agreement

* Net proceeds from subscription, after deduction of related

expenses, are estimated to be approximately hk$59.9 million

* Deal at an aggregate consideration of hk$85.0 million

* Company and subscriber entered into subscription agreement

* Pursuant to s&p agreement company agreed to acquire and

vendor agreed to sell sale shares and sale loan

* Company intends to apply net proceeds from subscription

for the acquisition

* Vendor being china star entertainment (bvi) limited,

target company is ace season holdings limited

* Co to allot and issue and subscriber to subscribe for a

total of 363.6 million subscription shares at subscription price

of hk$0.165 per subscription share

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