Hong Kong: China Merchants Holdings (International) has entered into an agreement with, among others, Djibouti Ports and Free Zones Authority (DPFZA) to acquire a 23.5% stake of Port de Djibouti SA (PDSA) for $185m. The investment is in a politically unstable, yet strategic location for Chinese shipping.
PDSA includes a multi-purpose terminal, a container terminal and a dry port.
China Merchants has earlier invested in Lome, Togo, and Lagos, Nigeria in West Africa, plus a container terminal in Sri Lanka. [31/12/12]
