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17 August 2019 The on-line newspaper devoted to the world of transports 17:22 GMT+2



April 29, 2019

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AVIC Intl yields the ship yard Weihai Shipyard to Lowers Merchants Group

69.77% of the capital will pass of hand for about 62 million dollars

Chinese AVIC Holding International Corporation (AVIC Intl) has signed an agreement with the CMOEI, society integrally controlled from Lowers Merchants Group (CMG), in order to yield them its entire shareholding in the Avic Weihai Shipyard, that it is pairs to 69.77% of the capital, with a transaction whose value will not exceed 620 million the yuan (62 million dollars). Remaining 30.23% of the capital of the ship yard Weihai Shipyard are stopped by the public company Weihai Be Capital Operation Co.



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