Shandong Hi-speed Company Limited agreed to acquire a 45% stake in Shandong Expressway Investment Co., Ltd. from EIT Environmental Development Group Co.,Ltd for approximately CNY 300 million.

Shandong Hi-speed Company Limited (SHSE:600350) agreed to acquire a 45% stake in Shandong Expressway (Shenzhen) Investment Co., Ltd. from EIT Environmental Development Group Co.,Ltd (SZSE:300815) for approximately CNY 300 million on July 11, 2023. As of March 31, 2023, Shandong Expressway reported Total assets of CNY 1078.6 million and Total owners? equity of CNY 655.6 million.

The transaction is approved by the board of EIT Environmental Development and does not need to be submitted to the general meeting of shareholders for consideration.