Shanghai-listed Heihua Group, a major chemical product and coal trader in Heilongjiang, has announced that China Securities Regulatory Commission has approved the company’s restructuring deal to acquire the shipping assets of Fujian-based Renjian Group, Antong Logistics and Ansheng Shipping.
Heihua Group has suspended its chemical products and coking coal operations due to the sluggish market condition and changed its main business scope to container logistics. The company said it hasn’t decided whether to resume operations of its original businesses in the future.
The two founders of Ansheng Shipping, Guo Dongsheng and Guo Dongze, will together hold 50.18% equity shares in Heihua Group and become the controlling shareholders of the group upon completion of the deal.
Ansheng Shipping is a major domestic container shipping company in Fujian, controlling a fleet of 35 vessels with total capacity of about 710,000dwt.