Dalian Port Group has announced a plan to integrate its container terminal assets. According to the plan, the company’s subsidiary Dalian Container Terminal Company (DCT) will acquire the entire assets, liabilities and businesses of another two container terminal subsidiaries, Dalian Port Container Terminal (DPCT) and Dalian International Container Terminal (DICT).
The integration will also involve a series of share transfer and swap deals with the shareholders of DPCT and DICT. Following the completion of the integration, DPCT and DICT will be dissolved.
DPCT is jointly owned by Dalian Port, APM Terminals, PSA China and Cosco, while DICT is owned by Dalian Port, China Shipping and NYK.
APM Terminals will sell its entire 20% equity shares in DPCT to DCT and all the other shareholders of the two subsidiaries will be awarded a new stake in the integrated company.
Dalian Port said the integration can lower the management costs and enhance operational efficiency, which is in line with the overall strategy of the company.