Chinese state run shipbuilding conglomerate China Shipbuilding Industry Corporation (CSIC) has announced a plan to sell part of its stakes in subsidiary yards Dalian Shipbuilding Industry (DSIC) and Wuchang Shipbuilding Industry (WSIC) as part of its restructuring plans.
CSIC confirmed it has been negotiating with a number of institutional investors including China Cinda Asset Management and China State-owned Capital VC Fund for the potential deal, however the parties haven’t signed any agreement yet.
According to CSIC, it has been constantly discussing the issue with the State Council while due diligence, audit and assessment work on the potential deal are currently underway.
CSIC said the deal would not lead to ownership changes or any back-door listing.
