China's top train maker CSR Corporation Ltd. said on Friday that its merger with China CNR Corporation Ltd. has gained approval from the acquisition and merger review committee of the China Securities Regulatory Commission (CSRC).
Company stocks in the A-share market will resume trading on April 7, according to a statement by CSR Corporation Ltd. filed with the Shanghai Stock Exchange on Friday.
In a separate statement on Friday, the company said the merger has also passed the anti-trust review by the Ministry of Commerce.
The company announced its merger plan on Dec. 30.
CNR Corp. will be merged into CSR Corp. through a stock swap agreement.
The new company, which will inherit all the assets, liabilities, businesses, staff, contracts, certificates as well as all other rights and obligations of the two companies, will be named CRRC Corporation Ltd.
CSR Corporation Ltd. said earlier the merger aims to build a new transnational and globally leading solution provider of high-end railway transport equipment.
