[Caihua Social News] Liao Port Co., Ltd. (02880.HK) announced that Yingkou Co., Ltd., a subsidiary of the company, and Yingkou Port Group, the company's controlling shareholder, signed the Asset transfer Agreement and the Equity transfer Agreement of Yingkou Port bulk cargo Terminal Co., Ltd., respectively in Yingkou City, Liaoning Province, in October 2021. Liao Kong shares agreed to acquire 100% stake in Yingkou bulk cargo held by Yingkou Port Group, as well as operational assets held by Yingkou Port Group for port production and auxiliary business.
Among them, the transfer price of the 100% equity of Yingkou bulk cargo is about 7.299 billion yuan, and the transfer price of the operating assets of the port production and auxiliary business of Yingkou Port Group is about 1.225 billion yuan.
Yingkou bulk cargo has completed the registration procedures for the industrial and commercial change of the equity transfer on December 17, 2021. As of the date of disclosure of the announcement, Yingkou Port Group no longer holds shares in Yingkou bulk cargo.
The company believes that the transaction solves the problem of inter-industry competition between the company and its controlling shareholders, enhances the operational independence, business and asset integrity of the listed company, enhances the company's profitability and port service capacity, and reduces related party transactions. to ensure the maximization of the interests of listed companies.