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Chinese consortium to buy a stake in Taiwan terminal for USD135m  Join our daily free Newsletter

MENAFN - 19/12/2012

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(MENAFN) Chinese port operators China Merchants Holdings International Ltd, Cosco Pacific Ltd. and China Shipping Group Co. will acquire shares worth USD135 million in a Taiwanese container terminal, Bloomberg reported.

The port operators said in a statement they will each buy 10 percent of the terminal in Kaohsiung, Taiwan's biggest port, while Taiwanese shipping line Yang Ming Marine Transport Corp. will remain the largest shareholder following the transaction. The deal is pending regulatory approvals.

The agreement came after talks for three years as Taiwan eased restrictions on mainland investments amid warmer ties.

The first phase of the Kao Ming terminal, which opened in January 2011, handled 1.08 million containers in its first year, compared with a 1.4 million design capacity.

 






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