Shanxi Road & Bridge Co.,Ltd. (SZSE:000755) signed an agreement to acquire Shanxi Pingyu Expressway Co., Ltd. from Shanxi Province Expressway Group Limited Liability Company for CNY 2.9 billion on August 24, 2020. As reported, Shanxi Road & Bridge intends to issue 857.3 million A shares to Shanxi Province Expressway Group Limited Liability Company as consideration. The final issuance quantity is subject to the result approved by the China Securities Regulatory Commission. After the completion of this transaction, Shanxi Pingyu Expressway will become a wholly-owned subsidiary of Shanxi Road & Bridge. Shanxi Pingyu Expressway reported total assets of CNY 6.3 billion and total common equity CNY 1.9 billion as at June 30, 2020. The transaction is subject to approval by the shareholders of Shanxi Road & Bridge and China Securities Regulatory Commission. The transaction has been approved at the 18th meeting of the seventh directorate of Shanxi Road & Bridge and pre-approved by the provincial state-owned operating company. The transaction has also obtained the final approval of the provincial state-owned operating company. As of February 28, 2021, the transaction has been approved by the shareholders' meeting of Shanxi Road & Bridge Co. On June 9, 2021, the merger, acquisition and reorganization examination committee of the listed company of CSRC held its 11th working conference for 2021, reviewed the Shanxi Road & Bridge Co.,Ltd.’s acquisition of asset through share issuance and raising of supporting funds transaction. Hou Wei of Zhong De Securities Company Limited acted as financial advisor, Feng Ai, Xia Hou an Yin Chu of Jun He Law Offices acted as legal advisors and Zhu Zhigong an Su Xiaohui of Jonten Certified Public Accountants Co Ltd acted as accountants for Shanxi Road & Bridge Co.,Ltd. Shanxi Road & Bridge Co.,Ltd. (SZSE:000755) completed the acquisition of Shanxi Pingyu Expressway Co., Ltd. from Shanxi Province Expressway Group Limited Liability Company on August 2, 2021.