LC Logistics Announces Major Vessel Acquisition

LC Logistics, Inc (HK:2490) has released an update.

LC Logistics, Inc. has announced a significant move with its subsidiary Bal Container entering into agreements to acquire two vessels from Lecang Fantasy for US$57.92 million. This deal, involving novation of rights and obligations under existing Shipbuilding Agreements, is considered a very substantial acquisition by the company, triggering requirements for shareholder approval under Hong Kong Listing Rules. The transaction is also classified as a connected transaction due to the relationship with a controlling shareholder, necessitating additional compliance and independent shareholder approval.

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