Beijing Hualian Department Store Co., Ltd. (SZSE:000882) completed the acquisition of Qingdao Hairong Xingda Commercial Management Co., Ltd. from CITIC Sandwich (Shanghai) Investment Centre (Limited Partnership) and Shanghai Rongshang Investment Management Center (Limited Partnership) for approximately CNY 480 million on January 20, 2017. As per revised terms, 123.8 million shares will be issued. As consideration, Beijing Hualian Department Store will issue 78.4 million shares at CNY 4.88 per share. CITIC Sandwich and Shanghai Rongshang will sell 19.09% and 80.91% stake respectively. As on April 26, 2016, the deal terms have been revised. Beijing Hualian Department Store Co., Ltd. will issue 121.61 million shares wherein 98.40 million shares will be issued to Shanghai Rongshang Investment Management Center (Limited Partnership) and 23.21 million shares to CITIC Sandwich (Shanghai) Investment Centre (Limited Partnership). The deal value has been revised to CNY 552.12 million. As on July 9, 2016, the deal terms have been revised. Beijing Hualian Department Store Co., Ltd. will now issue 256.07 million shares wherein 232.44 million shares will be issued to Shanghai Rongshang Investment Management Center (Limited Partnership) and 23.63 million shares to CITIC Sandwich (Shanghai) Investment Centre (Limited Partnership). The deal value has been revised to CNY 1 billion. In related transactions, Beijing Hualian Department Store Co., Ltd. agreed to acquire 100% stake in Anhui Hualian Shopping Plaza Co., Ltd. and 80.92% stake in Yinchuan Hualian Shopping Center Co., Ltd. and 100% stake in Shanxi Hualian Shopping Center Co., Ltd. and 89.29% stake in Inner Mongolia Xinlian Shopping Center Co., Ltd. from CITIC Sandwich (Shanghai) Investment Centre (Limited Partnership) and Shanghai Rongshang Investment Management Center (Limited Partnership) in stock on October 9, 2015. Qingdao Hairong Xingda Commercial Management reported total assets of CNY 947.6 million, negative total shareholders’ equity of CNY 16.57 million, operating loss of CNY 99.4 million and net loss of CNY 99.36 million as of December 31, 2014. The transaction is subject to second approval by the Board of Directors of Beijing Hualian Department Store after the completion of related audit and appraisal works, approval by the shareholders of Beijing Hualian Department Store and approval by China Securities Regulatory Commission. The transaction was unanimously approved by the shareholders of Qingdao Hairong Xingda Commercial Management and approved by the Board of Directors of Beijing Hualian Department Store. The price adjustment does not require approval from CSRC. On April 29, 2016, shareholders of Beijing Hualian Department Store Co., Ltd. approved the deal. Beijing Hualian Department Store Co., Ltd. received a notice from CSRC, following the review of the 90th working conference for 2016 of the Merger, Acquisition and Reorganization Examination Committee of the Listed Companies of CSRC held on November 30, 2016, Beijing Hualian Department Store Co., Ltd.'s acquisition of asset through share issuance and raising of supporting funds transaction gained conditional approval. As of December 29, 2016, the transaction received the approval of China Securities Regulatory Commission. Huatai United Securities Co., Ltd. acted as independent financial advisor, Tian Yuan Law Firm acted as the legal advisor and Grant Thornton China acted as the accountant to Beijing Hualian Department Store Co., Ltd. Beijing Hualian Department Store Co., Ltd. (SZSE:000882) completed the acquisition of Qingdao Hairong Xingda Commercial Management Co., Ltd. from CITIC Sandwich (Shanghai) Investment Centre (Limited Partnership) and Shanghai Rongshang Investment Management Center (Limited Partnership) for approximately CNY 480 million on January 20, 2017. As per revised terms, 123.8 million shares will be issued.