Chengdu Better City Investment Group Co.Ltd agreed to acquire 8.94% stake in China Zhonghua Geotechnical Engineering Group Co., Ltd. (SZSE:002542) from Yinhua Wealth Capital Management (Beijing) Co., Ltd. on October 22, 2018. Chengdu Better City Investment Group Co.Ltd signed a share transfer agreement to acquire 8.94% stake in China Zhonghua Geotechnical Engineering Group Co., Ltd. (SZSE:002542) from Yinhua Wealth Capital Management (Beijing) Co., Ltd. for approximately CNY 750 million on January 2, 2019. As per the terms, Chengdu Better City Investment Group shall acquire 161.95 million shares of China Zhonghua Geotechnical Engineering for CNY 4.63 per share. Prior to the transaction, Chengdu Better City Investment Group holds 9.9% stake in China Zhonghua Geotechnical Engineering. Upon completion of the transaction and related transaction, Chengdu Better City Investment Group shall hold 29.19% stake in China Zhonghua Geotechnical Engineering. In the related transaction, Chengdu Better City Investment Group Co.Ltd agreed to acquire 10.34% stake in China Zhonghua Geotechnical Engineering Group from Wu Yanwei, Liang Fuhua, Song Weimin and Liu Zhongchi on October 22, 2018. The transaction is subject to approved by the anti-monopoly Bureau of State Administration for Market Regulation. The transaction was approved at the directorate meeting of China Zhonghua Geotechnical Engineering on October 22, 2018. On November 18, 2018, the State-owned Assets Supervision and Administration Commission of Chengdu approved the transaction.