HAWTAI Motor Group Company Limited signed a framework agreement to acquire 19.77% stake in Liaoning SG Automotive Group Co., Ltd. (SHSE:600303) from Liaoning SG Group Co., Ltd. for CNY 3.1 billion on January 12, 2017. As on February 28, 2017, Liaoning SG Group Co., Ltd. and HAWTAI Motor Group Company Limited signed the share transfer agreement to transfer 97.9 million non-restricted tradable A shares and for entrusting voting rights for 45.8 million restricted shares. Total securities to be acquired under the transaction comprise 97.9 million non-restricted tradable A shares and 35.7 million restricted shares. For the non-restricted tradable A shares, price is set at CNY 23.21 per share. As on February 28, 2017, the transfer price for the 14.49% stake is mutually confirmed at CNY 2.3 billion. As of May 19, 2017, Liaoning SG Group Co., Ltd. and HAWTAI Motor Group Company Limited signed the equity transfer agreement wherein HAWTAI Motor Group Company Limited will acquire 35.7 million restricted shares at CNY 23.21 per share. Upon completion, HAWTAI Motor Group Company Limited will hold a total of 133.6 million shares of Liaoning SG Automotive Group, accounting for 19.77% of the total share capital and will be entrusted to exercise voting rights over the 10.15 million shares of Liaoning SG Automotive, accounting for 1.5% of the total share capital, Liaoning SG Group Co., Ltd. still holds. The transaction is subject to military matters review and approval from the State Administration of Science, Technology and Industry for National Defense and to the review and approval process of the Ministry of Commerce on the concentration of undertakings. As of July 24, 2017, the transaction was approved by the Shanghai Stock exchange. As of July 25, 2017, the transfer of 5.28% has been completed. On December 22, 2017, Liaoning SG Group Co., Ltd. and HAWTAI Motor Group Company Limited agreed to complete the delivery of Liaoning SG Automotive Group Co., Ltd.'s 14.49% stake before January 31, 2018. The transaction is now expected to be completed by April 20, 2018. On April 12, 2018, a supplementary agreement was signed and the share transfer completion date got revised. The transaction is now expected to be completed by June 29, 2018. As on June 22, 2018, Liaoning SG Group Co., Ltd. received a notice from Liaoning SG Group Co., Ltd stating that it has signed a postponement agreement with HAWTAI Motor Group Company Limited, the transaction is expected to be completed by September 28, 2018.