CMPDS, subsidiary of China Merchants Port Holdings Company, will subscribe to the equity interest in SPG held by Shantou SASAC (the State-owned Assets Supervision and Administration Commission of the Shantou Municipal Government), with the remaining 40% stake in SPG to continue to be held by Shantou SASAC.
SPG is principally engaged in ports operation in Shantou, Guangdong province, and operates five port zones in Shantou with a total of 22 berths in operation. In year 2016, SPG handled total container throughput of 1.16m teu, an 8.1% year-on-year increase.
“The group has, in recent years, been actively exploring and, as and when deemed appropriate, capturing available opportunities as one of the means to effectively add new growth drivers to its existing and sustainably growing ports business,” Hong Kong-listed China Merchants Port stated.
“The investment by the group into SPG will allow the group to control the ports assets in Shantou currently operated by SPG and will further strengthen the group’s port network in Southern China,” it added.
At present, China Merchants Port’s investments and operations span across China coastal areas including Hong Kong, Shenzhen, Shanghai, Ningbo, Qingdao, Tianjin, Zhanjiang, Xiamen Bay, and Taiwan, and internationally in Sri Lanka, Nigeria, Djibouti, Togo, US and a number of countries in Asia, Europe and the Mediterranean region.
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