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China Merchants to boost Mawan presence

China Merchants to boost Mawan presence

Hong Kong: China Merchants Holdings (International) Co Ltd will buy from its parent a controlling stake in Mawan port, near Shenzhen, for 1.65bn yuan in cash and new shares, the company saidin a statement. China Merchants Holdings said it would issue shares worth 1.2bn yuan and pay 450m yuan in cash for Mawan port. "The acquisition is in line with the group's strategy to consolidate its equity interests and, in turn, increase operation control over ports assets in ... western Shenzhen," it said.  [16/11/06]

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