JunHe Advises CBEST on its Merger with CGTG m88 sport betting app Material Asset Restructuring
2024.03.11
On January 9, 2024, Chongqing Department Store Co., Ltd. (stock code: 600729.SH) (“CBEST”) received the Approval of the Registration of Chongqing Department Store Co., Ltd.’s Merger with Chongqing General Trading (Group) Co., Ltd. (Zheng Jian Xu Ke [2023] No. 2875) issued by the China Securities Regulatory Commission. CBEST’s merger with its controlling shareholder, i.e. Chongqing General Trading (Group) Co., Ltd. (“CGTG”), by way of issuing shares was approved for registration m88 sport betting app the registration procedures have now been completed.
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This transaction was CBEST’s merger with CGTG by way of a share issuance to the latter’s shareholders. CBEST will take over all the assets, liabilities, business, personnel m88 sport betting app other rights m88 sport betting app obligations of CGTG. This transaction will expm88 sport betting app the asset scale of CBEST, improve its independence, m88 sport betting app enhance its market leadership in the retail industry.
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