10:51 AM EDT, 07/02/2024 (MT Newswires) -- Hollysys Automation Technologies ( HOLI ) said Tuesday that a buyer controlled by Ascendent Capital Partners has received all the Chinese regulatory approvals needed to complete their merger transaction.

The transaction will close upon the satisfaction or waiver of all closing conditions under the companies' agreement and Hollysys said its common shares will be delisted from Nasdaq upon closing.

Hollysys and Ascendent are "working to close the transaction expeditiously," Hollysys added.

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