Qingdao Port International Co., Ltd. completed the acquisition of 31.92% stake in Qingdao Red Star Logistics Industry Co. Ltd. from Guizhou RedStar Developing Co.,Ltd. for approximately CNY 120 million.
Qingdao Port International Co., Ltd. (SEHK:6198) completed the acquisition of 31.92% stake in Qingdao Red Star Logistics Industry Co. Ltd. from Guizhou RedStar Developing Co.,Ltd. (SHSE:600367) for approximately CNY 120 million on January 29, 2021. Guizhou RedStar Developing Co.,Ltd has received a total of 90% of the equity transfer price of CNY 57.6 million and 90% of the creditor's rights transfer price of CNY 48.3 million. The remaining 10% of the equity transfer price and creditor's rights transfer price will be paid within 10 working days from the date when Qingdao Red Star Logistics Industry Co. Ltd completes the real estate certificate procedures.