COSCO SHIPPING Holdings Co., Ltd. completed the acquisition of additional 14.93% minority stake in Shanghai International Port Co., Ltd. from China COSCO SHIPPING Corporation Limited.
December 13, 2022
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COSCO SHIPPING Holdings Co., Ltd. (SEHK:1919) agreed to acquire additional 14.93% minority stake in Shanghai International Port (Group) Co., Ltd. (SHSE:600018) from China COSCO SHIPPING Corporation Limited for CNY 18.9 billion on October 29, 2022. Under the terms, COSCO SHIPPING Holdings will acquire 3,4760,51,198 shares at a price of NY 5.45 per share. Post acquisition, COSCO SHIPPING Holdings will hold 15.62% stake in Shanghai International. Transaction is subject to approval from appropriate government department, state-owned assets regulatory agency or its authorized state-funded enterprise. As on November 23, 2022, COSCO SHIPPING Holdings Co., Ltd. held the first extraordinary general meeting of shareholders in 2022, and reviewed and approved the Proposal on Acquisition of Shares.
COSCO SHIPPING Holdings Co., Ltd. (SEHK:1919) completed the acquisition of additional 14.93% minority stake in Shanghai International Port (Group) Co., Ltd. (SHSE:600018) from China COSCO SHIPPING Corporation Limited on December 14, 2022. On December 15, 2022, the company received the "Transfer Registration Confirmation Letter" issued by China Securities Depository and Clearing Co., Ltd. retransferred from China COSCO SHIPPING Corporation Limited, confirming that the above-mentioned share transfer registration procedures have been completed on December 14, 2022
Shanghai International Port (Group) Co., Ltd. specializes in the port of Shanghai operating. The group proposes loading and unloading, storage, disassembly and maintenance of containers services, logistics, terminals management, transport, cargoes deliveries, port equipments renting, etc. services.
COSCO SHIPPING Holdings Co., Ltd. completed the acquisition of additional 14.93% minority stake in Shanghai International Port Co., Ltd. from China COSCO SHIPPING Corporation Limited.