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Xiamen Port acquires 50% stake in Songyu terminal

Shanghai: The port authorities for China based Xiamen International Port have signed a memorandum of understanding with parent company Xiamen Port Holding to buy 50% of the shares for a container terminal in at Songyu. The other 50% stake in the three-berth terminal are owned by A.P Moller Maersk subsidiary APM Terminals. Xiamen Port Holdings originally bought its share in the terminal for RMB 3bn ($388m) in 2005. The sale price for the terminal is currently undisclosed.  [23/04/07]

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