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COSCO Shipping Ports Divests Stake in Several Terminals

September 23, 2019

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On September 18, 2019, the port operator inked agreements for the disposal of its interests in Nanjing Longtan Terminal, Yangzhou Yuanyang Terminal and Zhangjiagang Terminal.

It is estimated that COSCO Shipping Ports would get around CNY 2.32 billion (USD 325.5 million), including aggregated consideration under the share purchase agreements of approximately CNY 10.6 billion.

Following the completion of the share purchase agreements, COSCO Shipping Ports will not own interest in any of the abovementioned companies.

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