China's Jiangsu Lianyungang Port Company will acquire controlling interests in two port and terminal businesses from its parent company, the Lianyungang Port Group.
Reuters reported that the Jiangsu Lianyungang Port Company signed a document of intent for the transfer of equity shares with its controlling shareholder for stakes in a Lianyungang-based cargo port company and in New Land Bridge (Lianyungang) Terminal Company.
Following the transfer, Jiangsu Lianyungang Port Company will acquire a 45 percent stake in the cargo port company, and a 38 percent share of the New Land Bridge (Lianyungang) Terminal Company Limited.
Tracey Jia