The Chinese shipping group COSCO Shipping Holdings Co. and the
compatriot Shanghai International Port (Group) Co. (SIPG), which
operates most of the terminals in the port of Shanghai, have
announced today the participation in the capital increase of SAIC
Anji Logistics Co., Automotive Logistics Company
wholly owned by the Chinese car manufacturer SAIC
Motor Corporation. Both COSCO and SIPG will invest one billion
yuan ($138 million) in the transaction with the aim of
both hold 10% of the share capital of Anji Logistics in
Conclusion of the transaction.
The COSCO and SIPG groups, respectively through the companies
COSCO SHIPPING Specialized Carriers and SIPG Logistics, are partners
of SAIC Anji Logistics in the Guangzhou Yuanhai Car joint venture
Carrier Co., a shipping company established in 2022 for
the export of cars made in China.
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