China: YZJ Acquires Remaining Interest in Jiangsu Yangzi Changbo Shipbuilding

Yangzijiang Shipbuilding (Holdings) Ltd. (YZJ) announced yesterday that the company has acquired the remaining balance of 49 % of the equity interest in the capital of Jiangsu Yangzi Changbo Shipbuilding Co., Ltd . (JCSC), of which 25% of the equity interest in JCSC was acquired by the company directly, and the remaining 24% of the equity interest in JCSC was acquired by its wholly – owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co. Ltd (JYSCO).
Prior to the acquisition, the Company was holding 51 % of the equity interest in the registered capital of JCSC. Following the Acquisition, JCSC will become a wholly – owned subsidiary of the Company.
JCSC is a company registered in the People’s Republic of China with a registered share capital of RMB 100 ,000,000. The principle activities of JCSC are shipbuilding, ship repair, production and processing of large scales steel structures.

YZJ, July 5, 2013