China Chengtong Holdings Group Ltd. and China Reform Holdings Corporation Ltd. agreed to acquire a 51.09% stake in CTS International Logistics Corporation Limited (SHSE:603128) from CTS International Transportation Co. Ltd. on May 10, 2017. The parties signed the gratuitous equity transfer agreement on May 24, 2017. Under the terms, 510.45 million shares will be acquired. Upon completion, CTS International Transportation Co. Ltd. will hold no stake in CTS International Logistics Corporation Limited. The transaction is subject to the approval of State-Owned Assets Supervision and Administration Commission of the State Council and China Securities Regulatory Commission and was approved by the Board of China National Travel Service (HK) Group Corporation, the parent of CTS International Transportation Co. Ltd. The transaction will not have adverse impact on the operations, financial conditions and solvency of China National Travel Service (HK) Group Corporation. China Chengtong Holdings Group Ltd. and China Reform Holdings Corporation Ltd. completed the acquisition of 51.09% stake in CTS International Logistics Corporation Limited (SHSE:603128) from CTS International Transportation Co. Ltd. on October 27, 2017.