Nanfang Communication Holdings Amends Sale Terms

Nanfang Communication Holdings Ltd. (HK:1617) has released an update.

Nanfang Communication Holdings Limited has entered into a supplemental agreement modifying the terms of their initial sale and purchase deal, giving the purchaser more time to obtain necessary regulatory approvals without facing penalties. This amendment includes the removal of the purchaser’s obligation to pay a termination penalty under certain conditions, and it aligns with an adjustment to the main sale and purchase agreement signed on the same day. The changes reflect longer than expected approval times from regulatory authorities in the PRC and aim to facilitate the completion of the disposal.

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