Hubei Chutian Expressway Co.,Ltd. (SHSE:600035) agreed to acquire Shenzhen Miki Smart Co., Ltd. from 12 shareholders of acquire Shenzhen Miki Smart Co for CNY 1.3 billion on July 15, 2016. Shenzhen Sanmu Investment Co., Ltd. will be paid a cash consideration of CNY 378 million and will be issued 129.9 million shares at CNY 4.64 per share. The others shareholders will be issued 60.2 million shares at CNY 4.64 per share as consideration. As July 29, 2016, the stock consideration revised to 190.1 million shares. Hubei Chutian Expressway Co will raise CNY 407.91 million to fund the deal. The transaction has been approved by the Board and shareholders of Hubei Chutian Expressway Co.,Ltd. As of August 5, 2016 Board of Hubei Chutian Expressway Co.,Ltd. approved the transaction and Hubei State-owned Assets Supervision and Administration Commission approved the transaction. On November 25, 2016, the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission approved the transaction. Shareholders of Hubei Chutian Expressway Co.,Ltd. approved the adjustments on December 2, 2016. Changjiang Financing Services Company Limited acted as financial advisor, AllBright Law Offices acted as legal advisor and Union Power Certified Public Accountants Co., Ltd acted as accountant for Hubei Chutian Expressway Co.,Ltd. On January 18, 2017, Hubei Chutian Expressway Co., Ltd. received an approval for acquisition of assets. Hubei Chutian Expressway Co.,Ltd. (SHSE:600035) completed the acquisition of Shenzhen Miki Smart Co., Ltd. from 12 shareholders of acquire Shenzhen Miki Smart Co on January 23, 2017.