Ninghu Expressway to acquire 100% of Sunan Changzhou Southern Expressway for 7.341 billion yuan

English summary

Ninghu Expressway (600377.SH) announced it will acquire 65%, 22.82% and 12.18% stakes in Sunan Changzhou Southern Expressway from Jiangsu Transport Holdings, Wuxi Communications and Changzhou Transport Holdings for a total consideration of 7.341 billion yuan in cash. The target's appraised value is 7.341 billion yuan, a 0.89% premium to book value; the related-party deal is subject to shareholder approval.