Shenzhen Chiwan ends port acquisition plans

Shenzhen Chiwan ends port acquisition plans

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.

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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