SIPG currently holds a 50% equity interest in Shanghai Mingdong while Hutchison Port owns the remaining 50%. Shanghai Mingdong operates part of the Waigaoqiao Container Terminal.
The sale price of the 20% stake is yet to be determined but an asset evaluation is underway, SIPG said in a filing to the Shanghai Stock Exchange
The disposal of the stake in Shanghai Mingding is expected to meet the requirements of SIPG’s strategic development and enhance the group’s overall business interest, it added.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
