Sinotrans, Changjiang Shipping plan merger -paper

SHANGHAI, May 14 (Reuters) - China National Foreign Trade Transportation Corp (Sinotrans) and China Changjiang National Shipping Corp plan to merge into China's second-largest shipping logistics firm, the official Shanghai Securities News said on Wednesday.

Sinotrans Group, parent of Sinotrans (0598.HK: Quote, Profile, Research, Stock Buzz), Sinotrans Ship (0368.HK: Quote, Profile, Research, Stock Buzz) and Sinotrans Development (600270.SS: Quote, Profile, Research, Stock Buzz), and Changjiang Shipping, the parent of Nanjing Tanker (600087.SS: Quote, Profile, Research, Stock Buzz) and Changjiang Phoenix 000520.SZ, have submitted a merger proposal to the state asset regulator, the newspaper reported, citing a senior Sinotrans executive.

Sinotrans Group will take the lead in the merger, which will not involve any equity in the listed units of the two group companies, the newspaper said. (Reporting by Alfred Cang; Editing by Edmund Klamann)