China Merchants Port Group Co., Ltd. (SZSE:201872) signed the equity transfer agreement to acquire 5% stake in Zhanjiang Port (Group) Co., Ltd from Guangdong Waiyun Co., Ltd. for approximately CNY 380 million on January 2, 2019. As per the terms, China Merchants will acquire 201 million shares and consideration for the transfer of shares will be paid in two phases. First installment will be CNY 112.6 million and the second installment will be CNY 262.7 million. China Merchants Port Group shall pay the first-time conversion consideration to the bank account previously designated in one-off or fractional time within 5 business days after the entry into force of this agreement and second installment will be paid on the date of delivery of underlying equity. The transaction has been approved by the 2019, 1st extraordinary meeting of the 9th directorate of China Merchants Port Group.