Jiangsu Lianyungang Port Co. agrees acquisitions with parent company

Jiangsu Lianyungang Port Co. has agreed a deal to acquire controlling interests in two port and terminal businesses from its own parent company, Lianyungang Port Group, according to reports.

Reuters says that Jiangsu Lianyungang Port Co. has signed a document of intent for the transfer of equity shares with its controlling shareholder for stakes in a Lianyungang-based cargo port company and in New Land Bridge (Lianyungang) Terminal Company Limited.

Following the transfer, Jiangsu Lianyungang Port Co. will acquire a 45 per cent stake in the cargo port company, and a 38 per cent share of the New Land Bridge (Lianyungang) Terminal Company Limited.

(Source: Port Finance International)