Fujian Zhaohang Logistics, the government-led entity that is restructuring struggling Chinese domestic liner shipping group Antong Holdings, has, with 12 other Chinese investors, injected CNY4.53 billion (US$688 million) into the company.
Of the funds, CNY1.35 billion (US$205.24 million) came from Fujian Zhaohang, a joint venture between China Merchants Port Holdings, AVIC Trust and Quanzhou’s municipal government.
Following the cash injection, Antong’s next step will be to implement...
https://container-news.com/antong-gets-us688-million-cash-injection/