Shenhua's merger with CSL, Changchun Yatai's role in the merger, resulting in a draw.

The Shenhua Group and CSF Co., Ltd. announced on June 24 that they had completed their merger. The new company will be named "Changchun Shenhua Sports and Cultural Development Co., Ltd." (Changchun Shenhua), which is expected to become China's largest sports company.

CSL, or Changchun Shenhua Sports and Culture Co., Ltd., was established in 1998 by Shenhua Group as its sports marketing arm. It has been involved in various sports activities such as football, basketball, and table tennis. However, it did not play any significant role in the merger between Shenhua and CSL.

As part of the merger, both companies have agreed to form a joint venture called "Changchun Shenhua Sports and Cultural Development Co., Ltd." (Changchun Shenhua). This new entity will operate under the same name and have the same corporate identity as Shenhua Group. Its main business will be to promote sports culture and development in the city of Changchun, focusing on football, basketball, and table tennis.

The merger is seen as a strategic move by Shenhua Group to expand its business beyond its traditional energy industry. By forming this joint venture, Shenhua Group hopes to tap into the growing market for sports and cultural development in the region.

Overall, the merger between Shenhua Group and CSL marks a significant step forward for both companies and the broader Chinese sports industry. With the formation of Changchun Shenhua, Shenhua Group has solidified its position as one of the leading players in the global sports market, while CSL has gained access to a new platform for promoting its sports activities and services.