Changping (Hangzhou) Industrial Holdings Co., Ltd. made an offer to acquire CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), ORG Development Limited, Hubei ORG Tinplate Printing & Can Making Co., Ltd and others for HKD 7.6 billion on December 6, 2023. The transaction will be financed from external financing secured from China Merchants Bank Co., Ltd. As of January 26, 2024, the offeror has made applications to the relevant authorities including antitrust approval from SAMR, NDRC, MOFCOM and SASAC in relation to the satisfaction of the Pre-Conditions, and none of the Pre-Conditions has been fulfilled. The Offeror will continue to work towards satisfaction of the Pre-Conditions.

As of February 19, 2024, Changping (Hangzhou) Industrial Holdings Co., Ltd. has obtained the approval from SASAC in connection with the Offer, and SASAC has also approved China Foods to transfer the Sale Shares to Changping (Hangzhou) Industrial. As of February 23, 2024, the transaction was approved by Ministry of Commerce of the PRC. Shenyin Wanguo Capital (H.K.) Limited acted as financial advisor to Changping (Hangzhou) Industrial Holdings Co., Ltd. Somerley Capital Limited acted as financial advisor for CPMC.