China Infrastructure & Logistics Group Watchlist
China Infrastructure & Logistics Group (1719 HK): Potential Unconditional MGO
208 Views, 11 Jan 2022 14:06
- After shares were halted midday on the 30 December pursuant to the Takeovers Code, China Infrastructure & Logistics Group (1719 HK) ("CILG") has announced a possible MGO from Hubei Ports.
- Hubei Ports has entered into a SPA with co-chairman Yan Zhi to acquire his 74.81% stake in CILG. Upon completion, this will trigger an unconditional MGO. The price is HK$1.15/share.
- A key condition to the SPA is approval from SASAC of Wuhan, which is turn controls 82.8571% of Hubei Ports. This transaction is done.