Guangzhou to acquire nearby port as consolidation moves gain pace
Guangzhou Port Co is to buy a majority stake in the adjacent Zhongshan Port & Shipping Enterprise Group. The move signals that an earlier government plan to integrate the local ports industry is moving forward
Guangzhou Port Co plans to pay Yuan503.8m ($72.4m) for a 52.5% stake, representing a more than 300% premium over ZPSEG’s book value
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