Yangzijiang to acquire 60% stake in Jiangsu Huayuan Logistics for $37.7 mil

SINGAPORE (Apr 25): Yangzijiang Shipbuilding’s wholly-owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co, has entered into an agreement to acquire a 60% stake in Jiangsu Huayuan Logistics Co. (JHLCO) for RMB 180 million ($37.7 million).

JHLCO is primarily involved in the leasing and chartering of vessels, and also owns cargo transportation company Shanghai Huayuan Shipping Co.

In a filing to SGX on Wednesday, Yangzijiang says the acquisition is in line with the group’s strategy to re-diversify its offerings beyond its core shipbuilding business.

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