ORG Technology (002701 CH), via the Offeror Huarui Fengquan Development Limited, has announced SAMR has given its approval. ORG still requires MOFCOM, NDRC, and SAFE to sign off.
Interestingly, SASAC/NCSSF-backed Champion Holdings, the competing/initial bidder for CPMC (906 HK), secured MOFCOM, NDRC, and SAFE before SAMR clearance. Champion's regulatory pre-conditions took a little over seven months to secure.
What now? SAMR is China's primary antitrust regulator (overlapping with NDRC). So this is positive for ORG. However, I'd still stick to ORG's pre-condition long stop in terms of timing.
CPMC (906 HK): SAMR Green Lights ORG's Offer
Keep reading with a 7-day free trial
Subscribe to Hong Kong/China M&A/Events to keep reading this post and get 7 days of free access to the full post archives.