Greater China

China Shipping acquires additional 20 percent equity in Beihai

Shanghai: China Shipping Development announced that its fully controlled subsidiary China Shipping Tanker (CST) is going to acquire 20% equity in Beihai Shipping from Shanghai Shipping Group for RMB830m.

CST had already acquired 20% equity of Beihai Shipping from Sinochem International for RMB830m in June.

CSD said the other two shareholders in Beihai Shipping are all subsidiaries of CNOOC, and that the deal will further strengthen its strategic ties with CNOOC. [31/07/14]


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