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Yangzijiang acquires remaining 20% stake in Jiangsu Yangzi Xinfu Shipbuilding for $136.9 mil

Felicia Tan
Felicia Tan7/21/2021 08:03 PM GMT+08  • 3 min read
Yangzijiang acquires remaining 20% stake in Jiangsu Yangzi Xinfu Shipbuilding for $136.9 mil
The transaction is expected to be accretive to the earnings of Yangzijiang.
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Mainboard-listed Yangzijiang Shipbuilding has acquired the remaining 20% stake it does not own in Jiangsu Yangzi Xinfu Shipbuilding (Xinfu Yard) for a consideration of RMB650 million ($136.9 million).

The group, on July 21, entered into a sale and purchase agreement (SPA) with Sanfu Shipbuilding Holdings.

The consideration will be paid via the transfer of 100 million treasury shares from Yangzijiang to Sanfu.

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