COSCO SHIPPING Holdings Co., Ltd. (SEHK:1919) agreed to acquire additional 14.93% minority stake in Shanghai International Port (Group) Co., Ltd. (SHSE:600018) from China COSCO SHIPPING Corporation Limited for CNY 18.9 billion on October 29, 2022. Under the terms, COSCO SHIPPING Holdings will acquire 3,4760,51,198 shares at a price of NY 5.45 per share. Post acquisition, COSCO SHIPPING Holdings will hold 15.62% stake in Shanghai International.

Transaction is subject to approval from appropriate government department, state-owned assets regulatory agency or its authorized state-funded enterprise. As on November 23, 2022, COSCO SHIPPING Holdings Co., Ltd. held the first extraordinary general meeting of shareholders in 2022, and reviewed and approved the Proposal on Acquisition of Shares.