Summary by Moomoo AI
CHINA GRAIN PACKAGING HOLDINGS LIMITED (“CHINESE FOOD PACKAGING”) ANNOUNCED ON 15 APRIL 2024 THAT CHAMPION HOLDING (BVI) CO., LTD (THE “CONTRACTOR”) HAS RECEIVED STATE APPROVAL TO SUBMIT A VOLUNTARY COMPREHENSIVE CASH OFFER WITH PRECONDITIONS TO ACQUIRE ALL THE ISSUED SHARES OF CHINA FOOD PACKAGING. The acquisition offer has been issued a joint notice on 6 December 2023 in accordance with Rule 3.5 of the Acquisition Code and a monthly update notice on 26 January 2024 and 22 March 2024. The Contracting Parties also announced the approval of the Ministry of Finance and the Ministry of Commerce on 19 and 23 February 2024. Antimonopoly licenses and approval or authorization from the State Foreign Exchange Bureau are currently pending from the General Administration of Markets and other international antitrust review bodies. The Covenant will continue to work to meet all the prerequisites and will update the agreement on the latest progress in a timely manner. Shareholders and potential investors in China Grain are reminded that the performance of the contract is not guaranteed and will be void if it fails to become unconditional.