Foshan (Port)

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Foshan Sanshui Port Development taken over by Keppel

Keppel Telecommunications & Transportation announced that its subsidiary Keppel Logistics (Foshan) had entered into a conditional share purchase agreement with Guangdong Sanshui Development Investment Holding to purchase 60% of the shareholding interest in Foshan Sanshui Port Development Co for RMB165.73m. Sanshui Port Development Co is engaged in port development and operations of a port in Sanshui District in Foshan. Sanshui Investment Co had put 60% interest in Sanshui Port Development Co for sale through an open tender process and Keppel Logistics Foshan won the tender. Upon the completion of the Acquisition, Sanshui Port Development Co will be a subsidiary of Keppel Logistics (Foshan). [Sino ShipNews 15/07/13]