Sun Art Retail mandatory offer trigger hinges on deal completion

Sun Art Retail Group (HKEX:6808) has announced a positive update regarding possible mandatory offers for the company. A key condition relating to the Share Purchase Agreement (SPA) was the requisite merger control filing with the State Administration for Market Regulation (SAMR) in China. Sun Art Retail Group announced that the SAMR condition was satisfied on February 10, 2025. According to the SPA terms, completion is due no later than February 27, 2025. The making of the offers is still only a possibility, subject to the fulfillment or waiver of other conditions.