SIPG makes first overseas investment

Shanghai: Shanghai International Port (Group) invested 27.16 million euros on May 28 to acquire a 25 percent stake in Belgium’s Zeebrugge terminal, becoming the second largest shareholder of the terminal, reports China Securities Journal.

Prior to the transaction, Zeebrugge port is wholly-owned by Maersk’s APM Terminals.

SIPG was in talks with Maersk in September 2006 to purchase a 40 percent stake in Zeebrugge port for 45 million euros. The transaction failed to materialize due to the financial crisis.

(Source:www.seatradeasia-online.com)