COSCO SHIPPING International (Hong Kong) Co (HK:0517) has released an update.
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COSCO SHIPPING International (Hong Kong) Co is set to enhance control over its subsidiary by acquiring the remaining 49% equity interests in Yuan Hua Technical & Supply Corporation for approximately US$292,524. This acquisition will turn Yuan Hua into a wholly-owned subsidiary, streamlining operations and potentially boosting financial performance. The transaction, classified as a connected transaction under Hong Kong’s Listing Rules, demonstrates the company’s strategic consolidation efforts.
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