SIPG eyes takeover of first phase of Yangshan port

Shanghai: Shanghai International Port Group (SIPG) is considering taking over the first phase of Yangshan Deep Water Port, complementing its ownership of the second and third phase of the port.

SIPG said it is currently planning a restructuring deal with Shanghai Tongsheng Investment Group, which is the owner of the first phase of Yangshan Deep Water Port. SIPG has suspended stock trading since September 9.

Shanghai Tongsheng Investment Group was established in 2002 and it serves as financing and investment arm of Shanghai SASAC (State-owned Assets Supervision and Administration Commission). [15/10/14]

Related Posts