Beigang, a subsidiary of Beibu gulf port, issued an announcement on October 28 that it intends to transfer the equity of the subsidiary to Guangxi Beigang Xijiang Port Co., Ltd.

The subject of this transaction is Beigang’s 100% equity of Beigang Guigang Terminal Co., Ltd., Beigang Guigang Container Terminal Co., Ltd., and Beigang Guigang Transit Terminal Co., Ltd., which is held by Beigang. Some Guiji Division’s claims of 222.615 million yuan, and Guigang Transit Terminal held 187,467,300 claims.

According to the evaluation results, both parties confirmed that the target company’s equity was priced at 453,170,900 yuan, the creditor's rights were priced at 410,082,300 yuan, and the total equity and creditor's rights were 863,253,200 yuan, which will be implemented after submission to Beigang Shareholders' meeting for deliberation.

The main assets of the three Guigang inland river terminal companies transferred include 4 1,000-ton berths and 3 2,000-ton berths in the second phase of Guigang Luobo Bay Operation Area, 4 500-ton berths in the third phase 1-4 of the

Luobo Bay Operation Area, 2 3,000-ton berths and supporting yards in the operation area.

Source: Sarah Yu, XINDE MARINE NEWS

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