20.03.2017
Santa Fe Group A/S has acquired the remaining 50% shareholding in Sino Santa Fe International Transportation Services Co Ltd. in China Company Announcement No 3/2017As previously announced (company announcements no. 3/2016), Santa Fe Group A/S has been pursuing a buy-out of the joint venture partner in China, China International Engineering Consulting Corporation
(CIECC), to gain full control over t
e activities in China after many years of operating a successful
partnership with CIECC. Today, M rch 20, a Share Purchase Agreement has been signed whereby the Santa
Fe Group will acquire CIECC's 50
shareholding at RMB 39.7m (equivalent to EUR 5.4m). Closing is
expected to take place within a few weeks, following regulatory approval in China.
Sino Santa Fe provides the full range of relocation services to corporate- and private clients with representations in Beijing, Shanghai and 10 other main cities in China. In addition, the company is engaged in Records Management activities. Sino Santa Fe generated revenue of EUR 23.0m in 2016 and owns a 6,000 sqm modern warehouse in the airport logistics zone in Beijing
For additional information, please contact:
Martin Thaysen, Group CEO, tel. +44 20 3691 8300, e-mail Martin.Thaysen@santaferelo.com
Christian Møller Laursen, Group CFO, tel. +44 20 8963 2514, e-mail
Christian.Laursen@santaferelo. om
Santa Fe Group A/S published this content on 20 March 2017 and is solely responsible for the information contained herein.
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