China State Construction International divest 60% stake in China Shipping Port
Date
August 12, 2020
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
China
Subsectors
Port
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China State Construction International has entered into a contractual agreement to divest a 60% stake in China Shipping Port (Laizhou) Co., Ltd. The cash consideration for 60% equity is valued at CNY 1,182 million (US$ 169.9 million). The guarantee payment of CNY 236.41 million (US$ 33.93 million) has already been made, the remaining amount for consideration must be completed in 15 days to close the transaction.
