Greater China

Sinotrans & CSC to dispose of non-marine assets

Shanghai: Sinotrans & CSC announced that it has put all 4.11% of the shares it owns in Tai Kang Life Insurance on sale at Shanghai United Assets and Equity Exchange (SUAEE). The listed price is RMB1.99bn.

Sinotrans & CSC already sold 1.75% shares of Tai Kang Life Insurance for RMB790m in August last year.

Sinotrans & CSC suffered huge losses in 2013, its oil shipping subsidiary Nanjing Tanker has been delisted from the stock exchange, and another subsidiary CSC Phoenix is currently in the process of bankruptcy reorganization. [14/05/14]

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