China Anchu Energy Storage Group Ltd (HK:2399) has released an update.
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China Anchu Energy Storage Group Ltd has conditionally agreed to acquire an additional 29% stake in an unnamed target company for HK$100 million, increasing its total ownership to 80%. The transaction is classified as both a discloseable and connected transaction under Hong Kong’s Listing Rules, requiring approval from independent shareholders. An Independent Board Committee and an Independent Financial Adviser have been appointed to ensure the deal is fair and in the shareholders’ interests.
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