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Green light for merger of Sinotrans and Changjiang Shipping

Green light for merger of Sinotrans and Changjiang Shipping

Beijing:  The State Council has approved the merger of central-government controlled Sinotrans Group and China Changjiang National Shipping (Group) Corp (CSC Group), the official Shanghai Securities News reported, citing sources at Sinotrans. The report said the decision will be officially announced within the next two months, and the name of the new entity will be Sinotrans CSC Group. No further details were provided. Sinotrans Group, the country's largest logistics company, is the largest shareholder of Hong Kong-listed Sinotrans Ltd and Sinotrans Shipping Ltd. Wuhan-based CSC Group, China's largest river shipping company, also has two listed arms - Changjiang Shipping Group Phoenix Co Ltd and Nanjing Water Transport Industry Co Ltd.  [27/10/08]

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