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CN SAMR Greenlights Zhejiang Cainiao's Capital Increase Acquisition of ~6% Stake in Int’l Freight Forwarder 4PX
Recommend 18 Positive 17 Negative 2 |
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The website of the Antitrust Enforcement Division II of China's State Administration for Market Regulation (SAMR) shows that unconditional approvals were granted from September 23 to October 7 for a list of business concentration cases, including the case of Zhejiang Cainiao Supply Chain Management Co., Ltd. acquiring equity in Shenzhen 4PX Information Technology Co., Ltd. According to the previously announced case disclosure form, Zhejiang Cainiao signed the "Capital Increase Subscription Agreement" and "Shareholders Agreement" with Shenzhen 4PX Information Technology, Shenzhen Shangcheng (literal translation of "深圳尚承"), QSI, and others. Through capital increase, Zhejiang Cainiao acquired 5.9459% of the equity in the international freight forwarding company. After the transaction, Zhejiang Cainiao holds 50.9459% of the equity in the international freight forwarding company, with sole control by Zhejiang Cainiao. AAStocks Financial News |
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