Tianjin Port Holdings sets terms for two terminal acquisitions

Tianjin Port Holdings has agreed the financial terms for its proposed acquisition of two terminal operators from Tianjin Port Group.

The transaction covers Tianjin Port Second Container Terminal Co. and Tianjin Port Huisheng Terminal Co. The two businesses operate container, general cargo and bulk facilities at the Port of Tianjin.

Tianjin Port Holdings will acquire the entire equity interest in both companies. The total consideration has been set at RMB6.22 billion.

The company will complete the Tianjin Port acquisition entirely through the issuance of new shares. No cash payment or additional financing will be required.

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