Summary by Futu AI
CHINA GRAIN PACKAGING HOLDINGS LIMITED (“CHINESE GRAIN PACKAGING”) ANNOUNCED ON 26 APRIL 2024 THAT CHAMPION HOLDING (BVI) CO., LTD (THE “CONTRACTOR”) HAS BEEN GRANTED AN OFFICIAL UNCONDITIONAL ANTI-MONOPOLY LICENSE FROM THE GERMAN FEDERAL CARTEL OFFICE, WHICH IS A PREREQUISITE FOR ITS FULL CASH ACQUISITION OF ALL ISSUED SHARES IN CHINESE FOOD PACKAGING One of the pieces. The proposed acquisition is being advised by Shen Wan Hongyuan Finance (Hong Kong) Limited as the Contracting Party's financial advisor. The Contracting Parties have issued a Joint Announcement on 6 December 2023, provided monthly updates on 26 January and 22 March 2024, and updated notices of approval on 19 February, 23 February and 15 April 2024. At present, bidders are still awaiting antitrust clearance from the General Administration of Markets and the Vietnam Competition Commission, as well as the approval or authorization of the tender from the National Foreign Exchange Bureau. The Contracting Party will continue to strive to meet all the prerequisites and will publish in due course the time of submission of the contract documents and the latest progress of the agreement.