Photo: SIPG
Cosco Shipping Holding is planning to purchase shares of two leading Chinese port operators, Shanghai International Port Group and Guangzhou port.
The company has entered into share purchase agreements with Cosco Shipping for acquisition of 14.93% equity interest in SIPG and 3.24% equity interest in Guangzhou port.
“The company is committed to providing customers with a supply chain solution of integrated container shipping + port + related logistics services and building a more resilient,globalised and digital supply chain service system. The acquisition of SIPG shares and Guangzhou Port shares are important measures for the company to build a global digital supply chain for its customers,which could enable it to strengthen its role as an investment platform,and promote its transformation from shipping lane operations to full supply chain operations,”said the company.
SIPG is a leading port operator in China,ranking the first in the world in terms of container throughput for many years. Guangzhou Port in southern China also has comprehensive advantages in terms of domestic and foreign trade.
After the completion of the acquisition,the company will be able to further deepen the strategic partnership with SIPG and Guangzhou Port,and strengthen the integration and synergy of different links in supply chain,and promote the participation of all parties in the construction of digital shipping.
