RS Technologies (TYO:3445) has further extended the finalization of its agreement to acquire Jiangxi Shinetech Precision Optical through a third-party share allotment.
The deal, initially planned for late September and later rescheduled to November, is now on hold indefinitely, according to its Tokyo bourse filing on Monday.
The latest delay is attributed to procedural issues regarding tax incentives that the target company is addressing.
The new execution dates for both the agreement and the share subscription are to be determined, and the company will make a further announcement once they are set.
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