Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) entered into an agreement to acquire 40% stake in Tianjin Northwest Global Mergers and Acquisition Investment Fund LLP from Wang Zhen for CNY 49.3 million on January 4, 2017. Under the terms, Shaanxi Northwest New Technology Industry Company Limited will issue CNY 209.3 million new H shares as the consideration. As of January 5, 2017, Tianjin Northwest Global Mergers and Acquisition Investment Fund LLP is wholly owned by Wang Zhen and after completion of the transaction, will be 60% owned by Wang Zhen and 40% owned by Shaanxi Northwest New Technology Industry Company Limited. In a related transaction, Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) entered into an agreement to acquire Goldenway Securities Company Limited from Northwest Securities Investment Management Company Limited for HKD 26.5 million (CNY 23.7 million) on January 4, 2017. As of November 30, 2016, Tianjin Northwest Global Mergers and Acquisition Investment Fund LLP reported net assets value of CNY 60 million. The transaction is subject to the approval of Shaanxi Northwest New Technology Industry Company Limited's shareholders, China Securities Regulatory Commission's approval, listing of consideration shares on the stock exchange, all necessary government, regulatory and third party approvals, consent of the general partner of Tianjin Northwest Global Mergers and Acquisition Investment Fund LLP with respect to the transfer of interest, completion of due diligence and other customary conditions. The agreement will cease if the conditions are not fulfilled by December 31, 2017 and completion will take place on the 7th business day after the fulfillment or waiver of conditions.