Shanghai: Nanjing Tanker announced today that its fully-owned subsidiary Nanjing Yangyang Chemical Transport has entered a sale and leaseback transaction with CMB Financial Leasing.
Yangyang Chemical Transport will sell four of its chemical tankers to CMB Financial Leasing for RMB200m and lease them back for eight years and it is entitled to purchase the tankers back at a nominal price when all the payment has been cleared at the expiration date of the leasing contract. Nanjing Tanker will provide guarantees for the deal.
On the same day, Nanjing Tanker announced again that it will suspend the trading of it shares if it suffers losses in the 2012 final results. [01/03/13]
