Tanker maker Guangdong Shipyard International (0317) has agreed to purchase Guangzhou Wenchong Shipbuilding from parent China State Shipbuilding Corp for 3.04 billion yuan (HK$3.47 billion).
The company hopes to boost capacity and expand into making smaller container ships with the purchase.
Guangdong Shipyard will pay the amount within twenty working days while China State Shipbuilding has agreed to hand over operations and management control within five days.
The company hopes to boost capacity and expand into making smaller container ships with the purchase.
Guangdong Shipyard will pay the amount within twenty working days while China State Shipbuilding has agreed to hand over operations and management control within five days.