Shanghai Lingang Holdings Corporation Limited (SHSE:900928) signed an agreement to acquire Shanghai Caohejing Development Zone Puxing Construction Development Co., Ltd and 85% stake in Shuangchuang Company from Shanghai Caohejing Hi-Tech Park (Pudong Area) Development Co., Ltd. for CNY 1.3 billion on June 21, 2016. The consideration will be paid via issuance of 117.27 million shares at CNY 14.07 each. As on August 4, 2016, the deal terms revised. 118.1 million common shares will be issued at CNY 1.677. The transaction is subject to approval from shareholders of Shanghai Caohejing Hi-Tech Park (Pudong Area) Development Co., Ltd., filing of the assets' assessment reports by the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, secondary approval of the directorate of Shanghai Lingang Holdings Corporation, approval from the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, approval from the shareholders of Shanghai Lingang Holdings Corporation, approval from China Securities Regulatory Commission and other necessary approvals. The transaction has been approved by the Directors of Shanghai Lingang Economic Development (Group) Co., Ltd. and Shanghai Lingang Holdings Corporation, State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government, respective shareholders of Shanghai Lingang Economic Development Group Assets Management Co., Ltd. and Shanghai Caohejing Hi-Tech Park (Pudong Area) Development Co., Ltd. and respective shareholders of Shanghai Caohejing Development Zone Puxing Construction Development Co., Ltd and Shuangchuang Company. As on August 19, 2016, the deal received in principle approval from the State-owned Assets Supervision and Administration Commission of Shanghai. As on August 22, 2016, the transaction has been approved by the shareholders of Shanghai Lingang Holdings Corporation Limited. On November 28, 2016, the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission reviewed and unconditionally approved the transaction. On December 29, 2016, China Securities Regulatory Commission approved the transaction. Guotai Junan Securities Co., Ltd. acted as financial advisor, Grandall Law Firm acted as legal advisor and Ruihua Certified Public Accountants LLP acted as an accountant to Shanghai Lingang Holdings Corporation. Shanghai Lingang Holdings Corporation Limited (SHSE:900928) completed the acquisition of Shanghai Caohejing Development Zone Puxing Construction Development Co., Ltd and 85% stake in Shuangchuang Company from Shanghai Caohejing Hi-Tech Park (Pudong Area) Development Co., Ltd. on January 3, 2017.