Bestway to purchase LNG ventures

Shanghai: Shanghai-based leading ship design company Shanghai Bestway plans to buy LNG companies’ shares at a total cost of RMB260m through the issuance of shares and cash payment.

According to the statement, the company will purchase 100% equity of Shanghai Walking LNG Utilization Company and 80% equity of Shanghai Jieneng LNG Transport Company from Shanghai Walking. The purchase of the LNG assets is thought to be aid the ship designer’s plans to enter into the LNG sector.

Currently, Walking has five LNG stations in Shanghai, and is also engaged in LNG-related sales and service business.  [14/11/13]

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