Tangshan Port Industrial Group Co.,Ltd entered into a letter of intent to acquire 51% stake in Tangshan Port Group International Trading Co., Ltd. from TangShan Port Group Co.,Ltd for CNY 58.3 million.
June 08, 2021
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Tangshan Port Industrial Group Co.,Ltd entered into a letter of intent to acquire 51% stake in Tangshan Port Group (Beijing) International Trading Co., Ltd. from TangShan Port Group Co.,Ltd (SHSE:601000) for CNY 58.3 million on June 8, 2021. On July 30, 2021, Tangshan Port Industrial Group signed equity transfer agreement. For the period ending, March 31, 2021, Tangshan Port Group (Beijing) International reported approximately CNY 210 million in total assets and approximately CNY 100 million in net assets. Transaction was approved by TangShan Port Group Co's Directorate on June 8, 2021. As of August 26, 2021, the shareholders of TangShan Port Group Co., Ltd. approved the transaction.
Tangshan Port Group Co Ltd is a China-based company mainly engaged in port comprehensive transportation business. The Company's business specifically includes port loading and unloading, transportation logistics, bonded warehousing, comprehensive port services and other business types. The Company has formed a diversified cargo pattern that focuses on the transportation of bulk cargo such as ore, coal, steel, sand and gravel, and water slag, supplemented by grain, fertilizers, liquefied products, and machinery and equipment.
Tangshan Port Industrial Group Co.,Ltd entered into a letter of intent to acquire 51% stake in Tangshan Port Group International Trading Co., Ltd. from TangShan Port Group Co.,Ltd for CNY 58.3 million.
TANGSHAN PORT GROUP CO.,LTD 
