Greater ChinaPorts and Logistics

Shenzhen Chiwan Wharf to acquire $3.8bn stake in China Merchants Port

Shenzhen Chiwan Wharf has announced plans to acquire a 38.72% stake in China Merchants Port Holdings (CMPH) for a total price of RMB24.65bn ($3.8bn).

Shenzhen Chiwan will complete the deal via issuing new shares to China Merchants Investment Development (CMID), the current shareholder of CMPH.

In the meantime, Shenzhen Chiwan entered an agreement with China Merchants Hong Kong to another 32% equity share in CMPH.

Shenzhen Chiwan plans to raise RMB4bn from institutional investors and the proceeds will be used for the infrastructure development projects.

The deal is part of China Merchants Group’s grand plan announced in May, to integrate all its port-related assets into Shenzhen Chiwan, which will become the integrated port operating platform of China Merchants.

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.
Back to top button