Dalian Port gives up Jinzhou Port acquisition

Dalian: Dalian Port Limited, the listed platform of Dalian Port Group, announced that the board has decided to give up the takeover of 3.92% shares of Jinzhou Port from Jinzhou Port State-owned Assets Management and Administration Company.

The board considers the takeover of 3.92% shares of Jinzhou Port has no substantive effect on the optimization of the company’s operation and business layout and the price of RMB3.51 per share is much higher than the price to earnings ratio of the company, which makes the cost of the investment very high. After discreet consideration, the board has decided to give up on the acquisition. [21/01/14]

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