Jiangsu Expressway Co (HK:0177) has released an update.
Jiangsu Expressway Company Limited has terminated the acquisition of a 65% equity stake in Jiangsu Suxichang South Expressway Co., Ltd. due to delays and uncertainties in the Yanjiang Expressway reconstruction project impacting traffic flow and asset valuation. The decision follows a series of board resolutions and an extraordinary general meeting, with the latest development announced after the conditions precedent for the transaction were not fulfilled.
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