Shandong Hi-speed Company Limited signed share purchase agreement to acquire 38.9% stake in Qilu Expressway Company Limited for CNY 1.6 billion.

Shandong Hi-speed Company Limited (SHSE:600350) signed agreement to acquire 38.9% stake in Qilu Expressway Company Limited (SEHK:1576) for CNY 1.6 billion on October 13, 2021. On November 10, 2021, parties signed share transfer agreement. The consideration has also been paid.

Under the terms of transaction, Shandong Hi-speed Company Limited will acquire 778.5 million shares. The deal is subject to approval from Board of Shandong Hi-Speed Group. The deal is approved by the Board of Shandong Hi-speed Company Limited.

As of November 10, 2021, all conditions has been fulfilled.