Guangdong Guanhao High-Tech Co., Ltd. signed an agreement of intention to acquire Foshan Huaxin Packaging Co., Ltd. for CNY 2.1 billion.
As on December 5, 2020, in order to protect the interests of Guangdong Guanhao High-Tech Co., Ltd. shareholders, the merger will give Guangdong Guanhao High-Tech Co., Ltd. dissenting shareholders acquisition request. China Paper Investment Company and its designated unrelated third parties will provide Guangdong Guanhao High-Tech Co., Ltd. dissenting shareholders with acquisition request. China Paper Company will provide Foshan Huaxin Packaging Co., Ltd.'s dissenting shareholders with cash options in this merger. As of March 11, 2021, Foshan Huaxin Packaging Co., Ltd. trading is halted and will resume on March 12, 2021, after regulatory approval. As on April 14, 2021, transaction is approved by the China Securities Regulatory Commission. The deal is expected to be completed by June 10, 2021 and trading will be completed but the same date as well. Guangdong Guanhao High-Tech Co., Ltd. has submitted an application to the Shenzhen Stock Exchange has submitted an application to the Shenzhen Stock Exchange on July 5, 2021.
CITIC Securities Company Limited (SHSE:600030) acted as the financial advisor to Guangdong Guanhao High-Tech Co., Ltd. Wu Dan and Tan Xiao of China International Capital Corporation Limited (SEHK:3908) and Zhang Yan and Wu Danjia of Huarong Securities Co., Ltd. acted as the financial advisors to Foshan Huaxin Packaging Co., Ltd. Gao Pingjun, Liang Feng, Qiu Jialei, Zhang Wenxi of Anli Partners acted as legal advisors and Li Qinglong and Liu Jingya of Pan-China Certified Public Accountants (Special General Partnership) acted as accountant to Foshan Huaxin Packaging Co., Ltd. Ma Hongji, Han Hongjing, Wang Peng, Lu Ting, Yu Meiling, Zhen Zhaoyong and Wang Wenyong of Beijing Jingtian & Gongcheng Law Firm acted as legal advisors and Xu Changying and Zhou Yanqun of Reanda Certified Public Accountants Co., Ltd. acted as accountants to Guangdong Guanhao High-Tech Co.