CSIC to sell stakes in DSIC and WSIC

CSIC to sell stakes in DSIC and WSIC

Chinese state run shipbuilding conglomerate China Shipbuilding Industry Corporation (CSIC) has announced a plan to sell part of its stakes in subsidiary yards Dalian Shipbuilding Industry (DSIC) and Wuchang Shipbuilding Industry (WSIC) as part of its restructuring plans.

CSIC confirmed it has been negotiating with a number of institutional investors including China Cinda Asset Management and China State-owned Capital VC Fund for the potential deal, however the parties haven’t signed any agreement yet.

According to CSIC, it has been constantly discussing the issue with the State Council while due diligence, audit and assessment work on the potential deal are currently underway.

CSIC said the deal would not lead to ownership changes or any back-door listing.

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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