Jiangsu Ninghu Expressway (00177.HK) plans to acquire 65% of the shares in the Jiangsu Suxi-Changnan Expressway and has not yet received the filing results from the state-owned assets management department

Gelonghui Finance ·  May 31 06:41

Gelonghui, May 31, 丨 Jiangsu Ninghu Expressway (00177.HK) announced that in order to further expand the size of the company's assets in the southern Jiangsu Expressway network, improve the main business layout, and enhance sustainable development capabilities, on January 26, 2024, Jiangsu Ninghu Expressway Co., Ltd. (hereinafter referred to as the “Company”, as the buyer and transferee) and Jiangsu Transportation Holdings Co., Ltd. (hereinafter referred to as “Jiangsu Traffic Control”, as the seller and transferor) signed an “Equity Transfer Agreement” with Jiangsu Traffic Control Agreement to acquire the Jiangsu Suxi Southern Expressway Co., Ltd. (hereinafter referred to as “Jiangsu Traffic Control”) (“Suxi Changnan Expressway Company” for short) 65% of the shares, with consideration of RMB 520.065 million (transfer consideration is calculated in proportion based on the assessed value of the evaluation report). The final price is based on the valuation registered by the state-owned assets management department. After the acquisition is completed, the company will hold 65% of Suxi Changnan Expressway Company's shares.

As of the date of this announcement, the company has not received the filing results from the state-owned assets management department, the prerequisites for the settlement of this transaction have not yet been met, and subsequent transactions are uncertain.

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