Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>There were some anxious moments after China's State Administration for Market Regulation (SAMR) <a href="http://www.samr.gov.cn/fldj/ajgs/jzjyajgs/202011/t20201125_323881.html" target="_blank" rel="noopener">announced</a> on the 25 November it was reviewing the MBK/ <a href="https://www.smartkarma.com/entities/car-inc" target="_blank" data-smartkarma-citation="entities:942:1" rel="noopener">Car Inc (699 HK)</a> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1113/2020111301538.pdf" target="_blank" rel="noopener">deal</a> as a simple case  - then promptly took near-on sixty day to assess the transaction rather than the "normal" 30 days. But Car <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0125/2021012501159.pdf" target="_blank" rel="noopener">announced</a> on 25 January the pre-conditions had been fulfilled and the Composite Document would be despatched on or before 29 January. </p>
<p>That despatch was pushed to the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0129/2021012901138.pdf" target="_blank" rel="noopener">1 February</a>, and now the Doc is <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0131/2021013100161.pdf" target="_blank" rel="noopener">out</a>. </p>
<p>The First Closing Date is the 22 February. The IFA (Halcyon) says "fair &amp; reasonable."</p>
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<p>The Offer is subject to a 50% tendering condition - with MBK holding 47.43% at the completion of its SPA with UCAR, together with irrevocables. Warburg/Amber, holding 4.96% at last count, is a seller. This is done.</p>
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<p>More thoughts below the fold.</p>
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There were some anxious moments after China's State Administration for Market Regulation (SAMR) announced on the 25 November it was reviewing the MBK/ Car Inc (699 HK) deal as a simple case  - then promptly took near-on sixty day to assess the transaction rather than the "normal" 30 days. But Car announced on 25 January the pre-conditions had been fulfilled and the Composite Document would be despatched on or before 29 January. 
That despatch was pushed to the 1 February, and now the Doc is out. 
The First Closing Date is the 22 February. The IFA (Halcyon) says "fair &amp; reasonable."


The Offer is subject to a 50% tendering condition - with MBK holding 47.43% at the completion of its SPA with UCAR, together with irrevocables. Warburg/Amber, holding 4.96% at last count, is a seller. This is done.


More thoughts below the fold.


Car (699 HK): Doc Out. IFA Says Fair. Done Deal

Hong Kong

National United Resources Holdings Limited, through its subsidiaries, leases commercial properties.  The Company also manufactures and sells equipment and ac cessories for broadband cable television.

National United Resources Holdings (254 HK)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Car (699 HK): Doc Out. IFA Says Fair. Done Deal

This is a done deal. Trading tight at 0.5%/6.3% gross/annualised. Watch for any last-minute weakness to pick up a spread o two below here.

David Blennerhassett