Disposal of CIMC Boosted CMP’s 1H; M&A a Dominant Theme for 2017
China Merchants Port, or CMP, became a pure port operator, following its disposal of 24.5%-owned associate CIMC, the container manufacturer. This allows the company to focus on its core competence in port operation, and with the cash proceeds of HKD 8.5 billion, we see the company accelerated its port expansion. The recent acquisitions include: CNY 5.4 billion for 60% Shantou Port in China, and up to USD 1.1 billion investment for a 99-year exclusive concession right on Hambantota Port in Sri La...China Merchants Port Holding is an investment holding company. Co.'s business operations includes: ports operation, which is comprised of container terminal operation, bulk and general cargo terminal operation; bonded logistics and cold chain operations, which is comprised of logistic park operation, ports transportation, cold storage and logistics operation and airport cargo handling; port-related manufacturing operation, which is comprised of container manufacturing; and other operations, which is comprised of property development and investment and construction of modular housing.
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