Shenzhen Chiwan Wharf Holdings, the operator of Shenzhen Chiwan Port, has announced that it has decided to terminate a restructuring plan involving the acquisition of China Merchants Holdings International’s port assets in Shenzhen.
The company said the plan was terminated as it couldn’t reach an agreement with some shareholders of the assets. Shenzhen Chiwan had been working on the deal since May, and stock trading of the company will resumed on October 20.
Additionally, Shenzhen Chiwan has reported a net profit of RMB242m ($38m) for the first half of this year, up 2.82% year-on-year.
