China Merchants to integrate port assets into Shenzhen Chiwan Wharf Holdings

China Merchants to integrate port assets into Shenzhen Chiwan Wharf Holdings

China Merchants Group is planning to integrate all its port-related assets into its listed unit Shenzhen Chiwan Wharf Holdings.

Trading of Shenzhen Chiwan Wharf Holdings shares have been suspended since November last year, citing a major restructuring deal.

Following the completion of the restructuring, Shenzhen Chiwan will control Hong Kong-listed China Merchants Port Holdings and all the domestic and overseas port assets owned by China Merchants, becoming the integrated port operating platform of China Merchants Group.

China Merchants believes the restructuring is an important step for the group’s port development strategy and will enhance the company’s profitability and core competiveness, and it hopes the two listed entities would create synergies for the group’s port business.

Shenzhen Chiwan said the restructuring involves complex procedures and it is still in the preparation stage. In the meantime, the company has applied to extend the stock trading suspension for another month.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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