Shanghai Stock Exchange asks for clarity from Cosco and China Shipping on merger plans

Shanghai Stock Exchange asks for clarity from Cosco and China Shipping on merger plans

China Cosco Holdings and China Shipping Development (CSD) have both announced that they have received an inquiry letter from Shanghai Stock Exchange (SSE), asking for clarity of the ongoing merger deal between Cosco Group and China Shipping Group.

China Cosco Holdings has been asked by SSE to provide market information, future profitability and risk opinion on the container assets and port terminal assets to be transferred from China Shipping to Cosco, and the specific deal arrangement.

The stock exchange also required CSD to provide similar information on the tanker assets integration between the two groups.

SSE has asked the two companies to reply to the inquiries before the deadline on December 25.

Cosco and China Shipping announced a merger plan on December 11, involving assets in the container shipping, tanker and port terminals.

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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