China merchants holdings sells tanker subsidiary
China Merchants Holdings (International) has sold wholly owned subsidiary Ming Wah Universal (Bermuda) for $1.31 billion in cash to China Merchants Energy Transport Investment. Ming Wah owns and operates seven tanker vessels. The seller and buyer are subsidiaries of China Merchants Holdings (Hong Kong).
clp puts shamshuipo sub-station up for tender
CLP Holdings is selling its sub-station on a 7,200 square foot site in Shamshuipo through a private tender that agents value at $150 million. Property consultants CB Richard Ellis, and A.G. Wilkinson & Associates will arrange the deal. The gross floor area is estimated at 65,000 sq ft if it is redeveloped as a residential project.
beijing automobile plans listing to aid expansion
Beijing municipal government-controlled Beijing Automobile Investment plans to list locally or overseas next month to raise funds to finance expansion of its mainland joint ventures with Hyundai and DaimlerChrysler, the Shanghai-based Oriental Morning Post quoted chairman Xu Heyi as saying.