Chu Kong Shipping Enterprises' (Group) (HKG:0560) subsidiary Chu Kong River Trade Terminal will acquire a 51% stake in Kaiping City Industrial Investment Freight and Port for 114.6 million yuan, a Tuesday filing with the Hong Kong Exchange said.
The target company will become a non-wholly owned subsidiary of Chu Kong River Trade Terminal after the completion of the deal.
The freight, logistics, transportation, ship repair, travel, and real estate company's shares closed nearly 4% lower on Tuesday.
Price (HKD): $0.76, Change: $-0.030, Percent Change: -3.80%
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