China's Dalian Port (PDA) Company announced that its subsidiary Dalian Container Terminal Company inked deals to acquire the total assets, liabilities, interests, and businesses of two container terminal subsidiaries, Dalian Port Container Terminal (DPCT) and Dalian International Container Terminal (DICT).
"Dalian Port Container entered into the Equity Transfer Agreement with the Vendor, pursuant to which the Vendor conditionally agreed to sell, and Dalian Port Container conditionally agreed to purchase the Sale Shares, representing 20% of the total equity interest in the Target Company, at a consideration of US$18,000,000 in cash," said a statement.
Prior to the Acquisition, Dalian Port Container and the Vendor were both shareholders of the Target Company. The Vendor will cease to be a shareholder of the Target Company mmediately upon the completion of the Acquisition.
The Group is principally engaged in the following businesses: (1) oil/liquefied chemicals terminal and related logistics services; (2) container terminal and related logistics services; (3) automobile terminal and related logistics and trading services; (4) ore terminal and related logistics services; (5) general cargo terminal and related logistics and trading services; (6) bulk grain terminal and related logistics and trading services; (7) passenger and roll-on, roll-off terminal and related logistics services; and (8) port value-added services and ancillary port operations.