Sinopacific Offshore gets $231m financial aid from CIMC Enric

Sinopacific Offshore gets $231m financial aid from CIMC Enric

CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has entered into a financial assistance framework agreement with Sinopacific Offshore and Evergreen Group, under which, CIMC Enric will provide a RMB1.5bn ($231m) loan to Sinopacific Offshore.

CIMC Enric said the fianancial assistant is to ensure that Sinopacific Offshore can maintain sufficient financial resources to carry on its business operation until it becomes a subsidiary of the company.

CIMC Enric signed MOUs with shareholders of Sinopacific Offshore to acquire full equity of the company in August. It believes the acquisition is in line with the company’s development strategy to expand in the industry chain for natural gas equipment and services.

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.

Related Posts