Yang Peng, Chairman and Executive Director of China Greenland Rundong Auto Group Limited (SEHK:1365) made an offer to acquire an additional 35.58% stake in China Greenland Rundong Auto Group Limited for HKD 1.2 billion on July 3, 2016. Yang Peng will acquire 336.75 million shares at an offer per share of HKD 3.5273 in cash. Yang Peng already owns 30% stake in China Greenland Rundong Auto Group. In a related deal, Yang Peng, Chairman and Executive Director of China Greenland Rundong Auto Group Limited agreed to acquire 30% stake in China Greenland Rundong Auto Group Limited for HKD 2 billion on June 26, 2016. This transaction triggered a mandatory offer to acquire the remaining shares not owned by Yang Peng. Runda (PTC) Limited and Rundong Smart Investment Limited will not sell their 0.6% and 3.8% stake in China Greenland Rundong Auto Group respectively. The offer will commence on July 27, 2016 and will expire on August 17, 2016. Yang Peng intends to finance and satisfy the consideration payable under the offer by the loan facility of up to HKD 850 million. Yang Peng intends that the shares will remain listed on the Stock Exchange immediately after the completion of the offer and to continue with the existing principle business of the Group following the close of the offer. An Independent Board Committee comprising Yan Sujian, a non Executive Director, and all independent non Executive Directors, namely Peng Zhenhuai, Mei Jianping, Lee Conway Kong Wai and Xiao Zhengsan has been established, to advise the shareholders in relation to the terms and conditions of the offer. An Independent financial adviser will be appointed by China Greenland Rundong after approval by the Independent Board Committee. The deal has been approved by Board of China Greenland Rundon Auto. Guotai Junan Securities (Hong Kong) Limited and Guotai Junan Capital acted as financial advisors to Yang Peng. Optima Capital Limited acted as the financial advisor for China Greenland Rundong Auto Group Limited. Computershare Hong Kong Investor Services Limited acted as registrar for China Greenland Rundon Auto Group Limited. Yang Peng, Chairman and Executive Director of China Greenland Rundong Auto Group Limited (SEHK:1365) completed the acquisition of an additional 3.73% stake in China Greenland Rundong Auto Group Limited for approximately HKD 120 million on August 17, 2016. Yang Peng acquired 35.28 million shares under the offer.