Dalian Port Merges Container Terminal Facilities

Dalian Free Trade Zone Dalian Port (PDA) Company Limited revealed that its subsidiary Dalian Container Terminal Company inked deals to acquire the total assets, liabilities, interests, and businesses of two container terminal subsidiaries, Dalian Port Container Terminal (DPCT) and Dalian International Container Terminal (DICT). With this move, PDA intends to further integrate resources, reduce management costs and improve operational efficiency, what is in line with the companys strategy. As informed, the transaction will include equity transfer and swap agreements with DPCTs and DICTs shareholders which include Dalian Port, APM Terminals, PSA China, Cosco, NYK and China Shipping. The agreements are subject to relevant conditions. Once the transaction is approved, DPCT and DICT will be dissolved, according to Dalian Port. Dalian Port Container entered into the equity transfer deal with the vendor, APM Terminals Dalian, according to which APM will sell shares for USD 18 million. The shares represent 20% of the total equity interest in DPCT. The remaining shareholders will receive new stakes in the merged company. World Maritime News Staff