Shenzhen Metro Group Co., Ltd. agreed to acquire 15.31% stake in China Vanke Co., Ltd. (SEHK:2202) from China Resources Co., Limited and China Resources Trade Co., Ltd. for CNY 37.2 billion on January 12, 2017. China Resources Co., Limited will sell 1.6 billion shares and China Resources Trade Co., Ltd. will sell 6.8 million shares at CNY 22 per share. Post this transaction, China Resources Co., Limited and China Resources Trade Co., Ltd. will not hold any stake in China Vanke Co., Ltd. The transaction is subject to approval of State-owned Assets Supervision and Administration Commission of the State Council. As of January 21, 2017, the transaction was approved by the State-owned Assets Supervision and Administration Commission of the State Council. The transaction is expected to be completed on or before March 31, 2017.