Hong Kong-based port and terminal operator China Merchants Port (CMP) has announced the acquisition of stakes in the operator of the Shanghai Port, Shanghai International Port Group (SIPG).
Between 9 March to 19 April, CM Port Development, a wholly-owned subsidiary of CMP, acquired an aggregate of 328,750,659 SIPG shares through on-market purchases on the Shanghai Stock Exchange. The average price per share was RMB5.76 (US$0.89) for an aggregate consideration of RMB1,894 million (US$294 million).
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