CR Vanguard made its first important step in purchasing Hongkelong, a supermarket chain in China, after it got the approval from the Ministry of Commerce on December 23. CRV still needs to get through other approval procedures and the ownership transfer of the latter’s assets. It will still take long before the acquisition is completed. However, this will not affect Hongkelong’s consumers no matter how the transaction goes.
Source:chinaretail.org