CSSC announced on March 24 that its holding subsidiary Guangzhou Shipyard International intends to acquire 51% of the equity of GSI Zhongshan Shipping Marine Engineering held by CSSC Investment and Development, with a purchase price of 702 million yuan, reports Xinde Marine News.
After the acquisition, GSI Zhongshan became a wholly owned subsidiary of GSI. GSI Zhongshanis is a joint stock company of GSI with a registered capital of 700 million yuan.
This acquisition is conducive to the timely expansion and overall coordination of production resources of GSI, which will help the coordinated high-quality development of the marine industry.
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Source: Xinde Marine News