China Merchants officially takes control of Liaoning Port Group

China Merchants officially takes control of Liaoning Port Group

China Merchants Group and State-owned Assets Supervision and Administration Commission (SASAC) Liaoning have entered into an agreement under which SASAC Liaoning will transfer 1.1% equity interest in Liaoning Port Group to China Merchants Group.

Following the transaction, China Merchants’ shareholding in Liaoning Port Group will be increased from 49.9% to 51% and the group will officially become the controller of Liaoning Port Group.

Liaoning Port Group was established in January this year after the integration of three major ports in the province, Dalian Port, Yingkou Port and Jinzhou Port. At the same month, China Merchants issued RMB10bn ($1.47bn) worth of bonds to fund the developments of the ports under Liaoning Port Group.

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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