Ningbo Port Group, the parent company of Ningbo Port , plans to sell its 12 percent holding in B.M. International Trading for 128 million yuan, reports the China Securities Journal.
B.M. International Trading imports raw steel materials from Australia, Brazil, South Africa, India, Peru, Chile, Canada, Russia and Ukraine. It earned revenue of 639 million yuan and net profit of 4.6 million yuan in the first two months of this year. B.M. Holding Group and Shanghai Gucun Real Estate Development Group respectively hold 73 percent and 15 percent stakes in B.M. International Trading.
Possible buyers do not include consortiums and must have bank deposits of at least 128 million yuan. Recipients must profit consecutively for 2008-2010 and commit to backed up B.M. International Trading with funds or loan guarantees if needed.
B.M. International Trading imports raw steel materials from Australia, Brazil, South Africa, India, Peru, Chile, Canada, Russia and Ukraine. It earned revenue of 639 million yuan and net profit of 4.6 million yuan in the first two months of this year. B.M. Holding Group and Shanghai Gucun Real Estate Development Group respectively hold 73 percent and 15 percent stakes in B.M. International Trading.
Possible buyers do not include consortiums and must have bank deposits of at least 128 million yuan. Recipients must profit consecutively for 2008-2010 and commit to backed up B.M. International Trading with funds or loan guarantees if needed.