Business Activities News
- Yantian to sell stake to Hutchison
Date: 1-Jun-2007 Sources: (Shenzhen Daily)
YANTIAN Harbor Co. said Hutchison Whampoa would become the controlling shareholder of a joint terminal operator in South China after a stake sale.
Shenzhen-listed Yantian has agreed to sell a 23.33 percent stake in the venture, set up in late 2004, to Hutchison, it said in a statement, but gave no pricing details. After the deal, Hutchison will control 65 percent of the tie-up, capitalized at 1.0 billion yuan (US$130.8 million), with Yantian holding the remainder.
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