On December 25, Yingkou Port Group, the controlling shareholder of Yingkou Port, planned to transfer 7.2% of the company's shares to PanSteel Group.
On the evening of December 27, Yingkou Port further disclosed the details of the transaction, which is about 1.21 billion yuan and will be paid in the form of share transfer.
As the transfer of shares still needs to be approved by the SASAC, it is uncertain whether the transaction can be finally completed and implemented.
If the share transfer is carried out smoothly, Yingkou Port Group will still be the controlling shareholder of the company, China Merchants Group will still be the actual controller of the company, and the transferee PanSteel Group will hold 7.2% of the company.
PanSteel Group is a 100% holding company of Ansteel Group, which is a super large vanadium & titanium iron and steel enterprise group relying on the abundant vanadium & titanium magnetite resources in Panxi area.
Yingkou port now has five ports, including Yingkou, Bayuquan, Xianren Island, Panjin and Suizhong, and its cargo throughput ranks top ten of coastal ports in China.
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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