Three ports in China’s south west Guangxi province are to merge in a Yuan2.22B (US$324M) deal between Beihai Port Co (BPC) and Guangxi Beibu Gulf International Port Group (GBGIPG).
Under the agreement, BPC will take a 70% stake in Fangcheng Port Group (FPG) and acquire 100% of Qinzhou Port Group (QPG) from GBGIPG. Shenzhenlisted BPC will issue 288M new shares to GBGIPG, which would make the state-owned company BPC’s largest shareholder....
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This complete item is approximately 300 words in length, and appeared in the September 2008 issue of WorldCargo News, on page 14.
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