Ant Group Secures China Nod for Hong Kong Brokerage Purchase

Ant Group Co. won China’s regulatory approval to complete its purchase of Hong Kong-listed brokerage Bright Smart Securities & Commodities Group Ltd., clearing the way for a deal agreed nearly a year ago.

Ant completed reporting procedures with the relevant Chinese authorities required for high-value, non-sensitive investment projects, according to a Hong Kong Stock Exchange filing on Monday, confirming an earlier Bloomberg News report. The deal is now expected to close on March 30, the filing said.