SITC acquires shipping agency

Shanghai: SITC International Holding announced that SITC Container Lines, a wholly owned subsidiary of the company, has entered a sale and purchase agreement with TVL International to acquire its shipping agency shares for a cost of HK$2.098m.

TVL International owned 30% equity of SITC Shipping Agency. After the acquisition, SITC Shipping Agency will become a wholly-owned subsidiary of the company. [25/09/14]

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