Hewlett Packard Enterprise and Tsinghua Partnership Approved by Chinese Securities Regulatory Commission
PALO ALTO, Calif., March 23, 2016 — Hewlett Packard Enterprise (NYSE: HPE) today announced Tsinghua’s subsidiary Unisplendour received approval from the Chinese Securities Regulatory Commission to move forward with its partnership with HPE in China. This regulatory approval is an important step towards the successful closing of this transaction. As stated on the Q1 2016 earnings call, HPE is on track to finalize the deal by the end of May.
On May 21, 2015, the former Hewlett-Packard and Tsinghua Holdings jointly announced a partnership that will bring together Chinese enterprise technology assets of Hewlett-Packard and China's prestigious Tsinghua University to create the leading Chinese provider of technology infrastructure. Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51% stake in a new business called H3C, comprising H3C Technologies and HPE's China-based server, storage and technology services businesses.