COSCO Haineng (600026.SH) plans to acquire some shares and LPG carriers for 1,261 billion yuan to integrate the energy and chemical logistics supply chain

Zhitong Finance App News, COSCO Haineng (600026.SH) announced that the company has established a wholly-owned subsidiary, Dalian COSCO SHIPPING Energy Supply Chain Co., Ltd. (“LPG Company”), and the company plans to sign equity acquisition agreements and asset acquisition agreements with COSCO SHIPPING Dalian Investment Co., Ltd. (“Shanghai COSCO SHIPPING”), respectively, to be acquired with a total of RMB 1,261 billion in cash:

1. Dalian Investment holds 70% of the shares of Shenzhen COSCO Longpeng Liquefied Gas Transportation Co., Ltd. (“Shenzhen Longpeng”), 87% of Hainan Zhaogang Shipping Co., Ltd. (“Hainan Zhaogang”), 15% of Dalian Xizhongdao Zhonglian Port Co., Ltd. (“Xizhongdao Port”), and two LPG carriers “Jin Guiyuan” and “Mudanyuan” ships; 2. 100% shares of CNOOC Chemical Transportation Co., Ltd. (“CNOOC Chemical”) owned by Shanghai COSCO Shipping Co., Ltd. (“CNOOC Chemical”), Shanghai COSCO SHIPPING (Hong Kong) A limited company (“Hong Kong Chemical Transportation” for short) is 100% owned by the shares.

After the transaction is completed, the company will integrate the energy and chemical logistics supply chain within the controlling shareholder COSCO SHIPPING Group. This is an important step for the company to focus on integrating energy and chemical logistics resources, achieve collaborative development, and better serve customer needs. It is a key engine for building an energy and chemical logistics supply chain, setting industry benchmarks, and better service management upgrades.