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01199 COSCO SHIP PORT
RTNominal up3.990 +0.120 (+3.101%)
Others

19/09/2019 09:02

COSCO SHIP Ports (01199) to sell terminal interests

[ET Net News Agency, 19 September 2019] COSCO SHIPPING Ports Limited (01199) said it
has agreed to sell the company's indirect interests in Nanjing Longtan Terminal, Yangzhou
Yuanyang Terminal and Zhangjiagang Terminal to Shanghai International Port Group (HK) Co.,
Limited at a consideration of RMB1.06 billion.
After completion, the company will cease to own any interest in any of the target
companies, Nanjing Longtan Terminal, Yangzhou Yuanyang Terminal and Zhangjiagang Terminal.
The transactions are in line with the company's strategic plan to divest assets in order
to achieve capital recycling, which will add momentum for the future development. (RC)

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