Article: CHINA SHIPPING SELLING LNG ARM


AsiaInfo Services
03-20-2009
China Shipping Selling LNG Arm

SHANGHAI, Mar 20, 2009 (SinoCast Daily Business Beat via COMTEX) -- State-backed shipping conglomerate China Shipping (Group) Corporation has recently put up a 100 percent stake in China Shipping LNG Investment Co., Ltd. for auction with a price of CNY 100.276165 million at the Shanghai United Assets and Equity Exchange.

Sources said that the move would possibly lead to assets consolidation of China Shipping, and that one of its listed arms would become the buyer.

For the moment, China Shipping owns 35 percent of the target company, and its subsidiaries based in Shanghai, Guangzhou, and Dalian respectively controls 25, 25, and 15 ...

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