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Yangzijiang Shipbuilding (Holdings) Ltd's Jiangsu Yangzi Changbo Shipbuilding Co., Ltd Announces Acquisition Of Jiangsu Bawei Port Development Co., Ltd


Thursday, 18 Apr 2013 05:10am EDT 

Yangzijiang Shipbuilding (Holdings) Ltd announced that the Company had through its 51% owned subsidiary, Jiangsu Yangzi Changbo Shipbuilding Co., Ltd (Changbo), acquired the remaining balance of 8.33% of the equity interest in the capital of Jiangsu Bawei Port Development Co., Ltd. (Bawei). Prior to the acquisition, the Company was the indirect holder of 46.75% of the equity interest in the registered capital of Bawei. Following the Acquisition, Bawei will become a wholly-owned subsidiary of Changbo, and 51% indirectly owned subsidiary of the Company. Bawei is a company registered in the People’s Republic of China with a registered share capital of RMB30,000,000. It provides part of the production land for Changbo’s business activities. The total consideration for the Acquisition is RMB3,250,000, the amount was derived based on an arm's-length willing buyer and the willing seller negotiation. 

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16 Sep 2014