China Merchants integrates Shenzhen port assets

China Merchants integrates Shenzhen port assets

China Merchants Port Holdings is selling its entire 66.1% equity stake in Shenzhen Chiwan Wharf Holdings to three affiliate special purpose vehicles of China Merchants Group for a total price of RMB10.04bn ($1.59bn).

Following the share disposal, Chiwan will cease to be a subsidiary of China Merchants Port Holdings.

Chiwan is listed on Shenzhen Stock Exchange and mainly engages in logistics service, container terminal and port management.

According to China Merchants Port Holdings, the share disposal helps resolve competition issues between it and Chiwan, with China Merchants Group promising to resolve any potential competition between Chiwan and the group’s other port operations in west Shenzhen through assets reorganisation.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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