Shandong State-Owned Assets Investment Holdings Co.,Ltd. agreed to acquire additional 14.18% stake in Shandong Zhonglu Oceanic Fisheries Company Limited (SZSE:200992) from Shandong Luxin Investment Holdings Group Co., Ltd. for approximately CNY 130 million on April 2, 2018. The equity transfer agreement was signed between the parties on July 20, 2018. A total of 37.73 million shares will be acquired as part of the deal for CNY 3.33 per share. A guarantee of 30% of the transactional price will be paid within 5 days since signing of the relevant contract. After the transaction, Shandong Luxin Investment Holdings will not hold any stake in Shandong Zhonglu Oceanic Fisheries Company Limited while stake of Shandong State-Owned Assets Investment will increase to 47.25% stake. On April 2, 2018, Shandong State-Owned Assets Investment Holdings Co.,Ltd. held the 12th President's Office Meeting in 2018 and decided to purchase the shares. Shandong Luxin Investment Holdings held its 4th meeting of the Board of Directors in 2018, and reviewed and approved the transfer on April 2, 2018. On August 14, 2018, the State-owned Assets Supervision and Administration Commission of Shandong Province approved the deal. On September 29, 2018, China Securities Regulatory Commission (CSRC) approved the exemption of Shandong Provincial State-owned Assets Investment Holdings Co., Ltd. from the acquisition of Shandong Zhonglu Oceanic Fisheries Co., Ltd. The transaction received the approval of CSRC on October 10, 2018. Shandong State-Owned Assets Investment Holdings Co.,Ltd. completed the acquisition of an additional 14.18% stake in Shandong Zhonglu Oceanic Fisheries Company Limited (SZSE:200992) from Shandong Luxin Investment Holdings Group Co., Ltd. on November 16, 2018.