Zhejiang Port Co., Ltd. to Be Indirect Shareholder of Ningbo Port Co., Ltd.

Ningbo Port Co., Ltd. announced on Nov. 21 that it has received the notification from Zhoushan(Ningbo) Port Co., Ltd., one of its controlling shareholders. The notification said that Stated-owned Assets Supervision & Administration Commission of Ningbo and Stated-owned Assets Supervision & Administration Commission of Zhoushan had signed The Stated-owned Share Transfer Agreement with Zhejiang Provincial Port & Investment Group on Nov. 19. According to The Agreement, the Stated-owned Assets Supervision & Administration Commission of Ningbo and Zhoushan will transfer 94.47% and 5.53% shares of Zhoushan (Ningbo) Port Co., Ltd. respectively to Zhejiang Provincial Port & Investment Group for free.

State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province also singed The Share Transfer Agreement with Stated-owned Assets Supervision & Administration Commission of Ningbo and Stated-owned Assets Supervision & Administration Commission of Zhoushan on Nov. 19 and will transfer 79.70% and 4.67% of Zhejiang Provincial Port Group to them respectively.

According to the statement, Zhejiang Provincial Port Group will become the indirect shareholder of Ningbo Port Co., Ltd. It's said that the total registered capital of Zhoushan(Ningbo) Port Co., Ltd. is 6000 million Yuan while the registered capital of Zhejiang Provincial Port Group is 6400 million Yuan, independently invested by State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province.

Founded in the end of September, 2015, Zhoushan(Ningbo) Port Co., Ltd. is co-invested by Ningbo Port Co., Ltd. and Zhoushan(Ningbo) Port Co., Ltd. Stated-owned Assets Supervision & Administration Commission of Zhoushan transferred all its shares of Zhoushan(Ningbo) Port Co., Ltd. freely to Ningbo Port Co., Ltd. while Stated-owned Assets Supervision & Administration Commission of Ningbo transferred its equivalence shares of Ningbo Port Co., Ltd. to Stated-owned Assets Supervision & Administration Commission of Zhoushan. Then, Ningbo Port Co., Ltd. was renamed as Zhoushan(Ningbo) Port Co., Ltd., which accelerated the development of the ports in Zhejiang Province.

Zhoushan(Ningbo) Port Co., Ltd. will continue to serve as the transfer base of container, ore, oil and liquid chemicals in mainland China while developing deepwater coastlines to make itself one of the ore transfer ports for the biggest ore ships as well as the top-level modernized port in the world.

LINK:	http://en.nbwh.gov.cn/art/2015/11/23/art_1325_76670.html...
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