Examples of Rail Merger in a sentence
Together with the grant of the Service Concession, the Company purchased certain other assets from KCRC which were needed to operate KCRC’s business after the Rail Merger.
The Rail Merger was principally structured as a service concession (the “Service Concession”).
The Legislative Council of Hong Kong approved the Rail Merger Ordinance on 8th June 2007 and on 9th August 2007, the principal Rail Merger transaction agreements (the “Merger Agreements”) for the implementation of the Rail Merger were executed.
One of the parameters set by the Government in February 2004 in relation to the Rail Merger was the adoption of an objective and transparent fare adjustment mechanism.
Under the terms of the Rail Merger, the Company’s 50-year franchise was re-granted with effect from 2nd December 2007.
The Company and the Government agreed upon the FAM for determining future fare adjustments to replace fare autonomy after the Rail Merger.
Further details of the Rail Merger are contained in the section headed “The Integrated MTR System” below.
The Company obtained approval for the Rail Merger from its independent shareholders at an extraordinary general meeting of the Company held on 9th October 2007 and the Rail Merger became effective on the Merger Date.
On 11th April 2006, the Company and the Government entered into a memorandum of understanding (the “Memorandum of Understanding”) with respect to the Rail Merger.
The Rail Merger involved the Company entering into a number of arrangements with KCRC which is wholly-owned by the Government.