China Cssc Holdings Limited(600150) leasing (03877) announced that fortune vcontainer carriers, a wholly-owned subsidiary of the company, has established a joint venture company (CA shipping) with ASL navigation to acquire and operate ships. As of the date of this announcement, CA shipping is 60% and 40% owned by fortune vcontainer carriers and ASL navigation respectively.
CA shipping (an indirect non wholly-owned subsidiary of the company) or its nominee (as the buyer) intends to enter into a sale and purchase agreement with Wuchang ship (as the seller), an indirect wholly-owned subsidiary of China Cssc Holdings Limited(600150) group, to acquire the ship. The total price is up to US $91.92 million (equivalent to about HK $717 million), and the price of one ship is US $22.98 million. It is currently expected that these ships will be delivered between January 31, 2024 and August 31, 2024.
The announcement said that the group is committed to maintaining the diversification, modernization and youth of the ship portfolio. The board of Directors believes that the proposed acquisition represents a strategic measure for the group to expand the proportion of regional container ships in its ship portfolio.
