The latest update is out from China Merchants Port Holdings Co ( (HK:0144) ).
China Merchants Port Holdings Company Limited has announced a further update on its acquisition of a 70% interest in Vast, a Brazilian company. The transaction, valued at USD 448 million, involves an adjustment mechanism to reflect Vast’s financial position at the closing date. The acquisition includes milestone payments designed to incentivize the expansion of Vast’s operational capacity, aiming to increase its handling volume and business growth. These payments are contingent on achieving specific operational milestones, such as obtaining permits and approvals to enhance Vast’s licensed capacity to 1.8 million barrels per day by 2027.
More about China Merchants Port Holdings Co
China Merchants Port Holdings Company Limited, incorporated in Hong Kong, operates in the port and terminal industry. The company focuses on the acquisition, development, and management of port facilities and related services, with a significant market presence in Asia and expanding interests globally.
YTD Price Performance: -1.25%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $6.77B
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