On November 20, China Merchants Port announced that the company signed an equity agreement with PT Episenta Utama Investasi (EUI) and planned to acquire PT Nusantara Pelabuhan Handal Tbk (NPH).
[Photo: CMPort]
According to the agreement, China Merchants Port will acquire 51% of NPH Group shares from EUI for approximately US$61.2 million. After the acquisition is completed, China Merchants Port becomes the controlling shareholder of NPH Group and leads the company's operation and management.
NPH Group is listed on Indonesian Stock Exchange and operates two container terminals in the Jakarta port area in Indonesia. China Merchants Port entered the Indonesian market for the first time by acquiring the equity of NPH Group, further expanding its port network in Southeast Asia.
By Xinde Marine News Sarah Yu
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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