Dalian Shipbuilding Industry established a new company and successfully purchased its bankruptcy and liquidation subsidiaries- DSIC Shipping Engineering and DSIC Steel for 624 million yuan.
On April 16, CSSC issued a notice that DSIC Shipping Engineering and DSIC Steel, the subsidiaries of DSIC, were ruled by the Court to enter the bankruptcy and liquidation procedures.
The manager of DSIC Shipping Engineering and the manager of DSIC Steel recently completed the auction of the main assets of the two companies. DSIC Changxing Island Ship Engineering acquired the entire "asset package" of the two bankrupt companies.
Among them, the final transaction price of DSIC Shipping Engineering is RMB 454,509,163.03 yuan. The final transaction price of DSIC Steel's auction was RMB169,796,312. The total transaction price of the two companies is about 624 million yuan.
The announcement stated that since DSIC Shipping Engineering and DSIC Steel entered the bankruptcy liquidation procedures, they will no longer be included in the company's consolidated financial statements.
The managers of the two companies have signed an auction confirmation agreement with the buyer, and will hold a creditors' meeting in the near future.
Source: Sarah Yu,XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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