Falcon Holding LP agreed to acquire 29.08% stake in Shandong Fengxiang Co., Ltd (SEHK:9977) for approximately CNY 560 million on October 16, 2022. Under the terms, Falcon Holding will acquire 355 million H shares and 52.15 million domestic shares at CNY 1.3822 per shares in cash. Transaction is subject to approval of Shandong Fengxiang's shareholders.

As on January 13, 2023, transaction has been approved by Shandong Fengxiang's shareholders. Transaction is expected to close on February 1, 2023. CMB International Capital Limited acted as financial advisor to Falcon Holding and Octal Capital Limited acted as financial advisor to Shandong Fengxiang.