Inner Mongolia Lantai Industrial Co., Ltd. (SHSE:600328) agreed to acquire China Salt Jilantai Chlor-Alkali Chemical Co., Ltd., Salt Jilantai Polymer Materials Co., Ltd. and operating assets and liabilities of soda ash busines from Jilantai Salt Chemical (Group) Co., Ltd. for CNY 2.9 billion on December 15, 2017. As per the terms of the transaction, Inner Mongolia Lantai Industrial Co., Ltd. will pay CNY 1 billion in cash and will issue 138.7 million shares for China Salt Jilantai Chlor-Alkali Chemical. Inner Mongolia Lantai Industrial Co., Ltd. Inner Mongolia Lantai Industrial Co., Ltd. will issue 13.9 million shares at CNY 10.82 per share for Salt Jilantai Polymer Materials. Inner Mongolia Lantai Industrial Co., Ltd. will issue 24.02 million shares at CNY 10.82 per share as consideration for operating assets and liabilities of soda ash business. The lock up period of consideration shares will be 12 months will issue 87.6 million to not more than 10 specific investors and raise proceeds not exceeding CNY 1.2 billion and will use CNY 1 billion to fund the cash portion of the transaction. Later it was announced that the company will issued shares in a private placement operation to raise supporting funds to not more than 10 specific investors for proceeds not exceeding CNY 800 million. As of July 2, 2018, the terms of the transaction were amended. Under the terms of the amendment, for China Salt Jilantai Chlor-Alkali Chemical, Inner Mongolia Lantai Industrial Co., Ltd. will now pay CNY 2.8 billion as consideration. Out of total consideration, CNY 800 million will be paid in cash and remaining in shares. The issuance price of shares has been changed to CNY 8.59 per share. For Salt Jilantai Polymer Materials CNY 135 million and will be satisfied through issuance of 15.7 million shares of Inner Mongolia Lantai Industrial and for operating assets and liabilities of soda ash business 32.6 million shares. As of January 29, 2019, the consideration has been revised to CNY 3.62 billion and will be satisfied through issuance of 389.7 million shares of Inner Mongolia Lantai Industrial and paid CNY 800 million in cash for Salt Jilantai Polymer Materials. As of March 25, 2019, Inner Mongolia Lantai Industrial will acquire for approximately CNY 210 million in cash for operating assets and liabilities of soda ash business. As on March 26, 2019, terms of the transaction have been amended, now Inner Mongolia will pay CNY 450 million in cash and will issue 305.5 million shares for China Salt Jilantai Chlor-Alkali Chemical. As of July 11, 2019, the final consideration was amended, for China Salt Jilantai Chlor-Alkali Chemical CNY 975.87 million cash and 305.52 million shares, for Salt Jilantai Polymer Materials and operating Assets and Liabilities of Soda Ash Business CNY 107.97 million and CNY 207.54 million in cash respectively. The transaction is subject to approvals from Inner Mongolia Lantai Industrial Co., Ltd.'s shareholders, China Securities Regulatory Commission, Ministry of Commerce and State-owned Assets Supervision and Administration Commission and review of undertaking of concentration by the State Administration for Market Regulation. The transaction has been approved by the Board of Directors of Inner Mongolia Lantai Industrial Co., Ltd., China National Salt Industry Corporation and Jilantai Salt Chemical (Group) Co., Ltd. The State Council State-owned Assets Supervision and Administration Commission pre-approved the transaction but the transaction still needs approval by State-owned Assets Supervision and Administration Commission and State Council State-owned Assets Supervision and Administration Commission. The transaction was approved in the thirteenth meeting of the sixth Board of Directors of Inner Mongolia Lantai Industrial Co., Ltd. As on June 3, 2018, the transaction has been approved again by the Board of Inner Mongolia Lantai Industrial Co., Ltd. The amendment to the transaction was approved by the 19th meeting of the 6th Directorate of Inner Mongolia Lantai Industrial Co., Ltd. on July 2, 2018. As of March 19, 2019, Inner Mongolia Lantai Industrial obtained approval in principle from the State-owned Assets Supervision and Administration Commission of the State Council. As on March 26, 2019, amendment has been approved by the Board of Directors of Inner Mongolia. As of June 12, 2019, anti-monopoly review of operators is issued and approved by State Administration for Market Regulation. The transaction was approved by the shareholders of Inner Mongolia Lantai Industrial in the first extraordinary shareholders meeting in 2019. On July 24, 2019, CSRC decided not to approve the transaction. On November 6, 2019, China Securities Regulatory Commission conditionally approved the transaction. As of December 13, 2019, Inner Mongolia Lantai Industrial Co., Ltd. received the written approval No.[2019]2661 from China Securities Regulatory Commission approving the asset acquisition. As of December 16, 2019, 100% stake in China Salt Jilantai Chlor-Alkali Chemical Co., Ltd. and 100% stake in China Salt Jilantai Polymer Materials Co., Ltd. has completed the industrial and commercial change registration procedures for equity transfer. Han Zhida, Fu Guannan, Yao Tao, Chen Cong, Wei Peng, Xie Fanggui, Liu Chongran, Wang Wenting of Guotai Junan Securities Co., Ltd acted as financial advisors, Hu Weiye, Xu Wanze, Deng Yonghui, Gui Cheng, Chen Youran, Zhang Keling, Lin Yanxin of China Merchants Securities Co., Ltd acted as financial advisors, Wang Yong, Qin Yue, Na Heya, Yang Wenyan of Inner Mongolia Jiadu Law Firm acted as legal advisors and Zhang Junshu, Guo Jian, Guo Shunxi, Liu Jungang, Zhang Jiahui, Zhang Shuo of BDO China Shu Lun Pan Certified Public Accountants LLP acted as an accountants to Inner Mongolia Lantai Industrial Co. China United Association acted as the valuer in the transaction. Inner Mongolia Lantai Industrial Co., Ltd. (SHSE:600328) completed the acquisition of China Salt Jilantai Chlor-Alkali Chemical Co., Ltd., Salt Jilantai Polymer Materials Co., Ltd. and operating assets and liabilities of soda ash busines from Jilantai Salt Chemical (Group) Co., Ltd. on December 26, 2019.