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Shanghai Longcheer Technology Reduces Planned Stake Acquisition in Data Center Infrastructure Products Supplier

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Shanghai Longcheer Technology (SHA:603341) reduced its planned acquisition of a controlling stake in Suzhou Anruike Information Technology to 60% from 80%, according to a Saturday filing with the Shanghai bourse.

The purchase price for the data center infrastructure sector company will fall to 840 million yuan from 1.12 billion yuan, the filing said.

The agreement also puts a cap on bonuses for the founding shareholders to 90 million yuan, while founding shareholder Ding Zhiyong will also be required to buy 50 million yuan of shares wtih a 12-month lock-up period.

What else is happening in Asia?

Asia

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TYO:9984
Asia

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SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

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SHA:601825