Tianhai Investment, formerly Tianjin Marine, has announced that it plans to spend up to RMB2.2bn ($346m) to acquire a 27% stake in China United SME Guarantee Corporation (Sino Guarantee).
Sino Guarantee is a government-backed firm, that mainly provides credit enhancement products for bonds and loans. Tianhai Investment said the acquisition will create synergies between the company’s main business and relevant businesses in the financing sector.
Tianhai Investment, traditionally a container shipping company, has recently moved into the VLCC and LNG sector and is currently inviting tenders for the construction four VLCCs.
