Independent journal on economy and transport policy
11:40 GMT+1
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COSCO Shipping Ports will increase the participation in the Qingdao Port International
The value of the operation will be pairs to about 843 million dollars
February 13, 2017
Terminalista society Chinese COSCO Shipping Ports, that shipowning group COSCO Shipping is under responsibility of, will increase own participation in the Qingdao Port International Co. (QPI), the main terminal operator of the port of Qingdao, and meanwhile will yield own participation in the Qingdao Qianwan Container Terminal Co. (QQCT), society that work 11 docks in the port of Qingdao dedicated to the traffic of the container.
In particular, COSCO Shipping Ports, through the society integrally controlled Shanghai China Shipping Terminal Development Co. (SCSTD), has signed an agreement with QPI based on which SCSTD will acquire 1,0 sets in action national not circulating of the QPI for a fee pairs to a total of 5,8 billion yuan (843 million dollars), of which 2,6 billion yuan and cash 3,2 billion yuan through the transfer to the QPI of 20% of the capital of the QQCT stopped from SCSTD. The other shareholders of the QQCT are the same QPI with 31% of the capital and 49% the PTS Holdings, society participated from Dutch APM Terminals of shipowning group Danish A.P. Møller-Mærsk and from the terminalista society DP World of Dubay. With the transaction the share quota SCSTD in the QPI, currently pairs to 2.01% about, will go up to 18.41% of the capital.
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