Qinfa Group pulls out of deal to sell shipping assets to Bo Hai Investment

Qinfa Group pulls out of deal to sell shipping assets to Bo Hai Investment

Hong Kong-listed commodity trader China Qinfa Group has announced that it would terminate a deal to sell its China shipping assets to Bo Hai Investment as the conditions of the deal were not satisfied.

China Qinfa Group reached an agreement with Bo Hai Investment in July 2015 to sell the entire interest in Hong Kong Qinfa International Trading to the latter for RMB176.7m ($26.4m), planning to quit shipping as part of its restructuring plan.

In January, China Qinfa Group delayed the deal as it required additional time to negotiate with third party financial institutions.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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