Zhuji Water Resources Group Co., Ltd. agreed to acquire 27.9% stake in Zhejiang Great Southeast Corp.Ltd (SZSE:002263) from Zhejiang Great Southeast Group Co.,Ltd for CNY 1.2 billion on June 26, 2019. As per the transaction, Zhuji Water Resources Group Co., Ltd. will acquire 524.16 million shares of Zhejiang Great Southeast Corp.Ltd from Zhejiang Great Southeast Group Co.,Ltd. On July 18, 2019, Zhuji Water Resources Group Co., Ltd. has completed acquisition of 167.14 million shares representing 8.9% stake in Zhejiang Great Southeast Corp.Ltd. Remaining 357.12 million shares will be transferred later. As on July 30, 2019, Zhuji Water Resources Group Co., Ltd. acquired 164.10 million shares from Zhejiang Great Southeast Group Co.,Ltd. The transfer procedure for the remaining 92.91 million shares are to be completed as soon as possible. Post completion, Zhejiang Great Southeast Group Co.,Ltd will hold no stake in Zhejiang Great Southeast Corp.Ltd.