A SOHO China office building in Beijing. [Photo/SOHO China]
Hong Kong-listed property developer SOHO China gave an update on the progress of the company's tender offer on Monday, announcing the offeror has provided further documents and materials in accordance with regulatory requirements for additional information, and the offeror has learned from the State Administration for Market Regulation the investigation is still underway.
The offeror has been requested to provide more information to the regulator for review. It was uncertain when the investigative procedure will end.
To date, no preconditions were reached.
US private equity giant Blackstone Group announced its plan to acquire a controlling stake of SOHO China for some $3 billion in June.
Beijing-headquartered SOHO China said in August the State Administration for Market Regulation was looking into the proposed acquisition.
Such a review procedure is regarded as normal, as all mergers and acquisitions taking place in the country should abide by China's antitrust law.
Article source from China Daily
