Asiainfo Security Technologies Co.,Ltd. (SHSE:688225) agreed to acquire 20.32% stake in AsiaInfo Technologies Limited (SEHK:1675) from Skipper Investment Limited for HKD 1.7 billion on January 16, 2024. Under the terms, Asiainfo Security will pay HKD 9.45 per share as consideration. In case if Asiainfo Security Technologies Co.,Ltd acquires 19.236% stake, the deal value is adjusted to HKD 1.6 billion, and in case Asiainfo Security Technologies Co.,Ltd acquires 20.316% stake, the deal value is adjusted to HKD 1.7 billion.

The transaction is subject to shareholders? approvals of AsiaInfo Technologies and Asiainfo Security Technologies, PRC government and anti-trust approvals and completion of secondary sale and/or distribution of shares in AsiaInfo Technologies Limited. The long stop date is October 31, 2024.

Benita Yu of Slaughter and May acted as legal advisor for Asiainfo Security Technologies Co.,Ltd. China International Capital Corporation Limited (SEHK:3908) acted as financial advisor, Han Kun Law Offices acted as legal advisor and KPMG Huazhen and Grant Thornton China acted as accountants to Asiainfo Security Technologies.