Group 1 - The company announced a capital increase agreement for its joint venture COSCO Shipping Terminals (USA) LLC, totaling $2,057 million, with contributions of $822.8 million from COSCO Shipping Ports and $1,234.2 million from China Merchants Jinling [1] - The joint venture is owned 40% by COSCO Shipping Ports and 60% by China Merchants Jinling, with initial contributions made in 2007 amounting to $80,000 and $120,000 respectively [1] - Following the capital increase, COSCO Shipping Ports retains its 40% stake in the joint venture, while China Merchants Jinling maintains its 60% stake [1] Group 2 - The additional capital increase aims to fulfill the joint venture's responsibilities in the liquidation of SSA Terminals (Seattle), LLC, in which it holds a one-third interest, and to cover related expenses [2] - This capital increase will facilitate the efficient liquidation of SSA Terminals (Seattle), LLC, thereby reducing the group's risk exposure to this non-core associate and minimizing potential future losses and contingent liabilities [2] - The transaction aligns with the group's strategy to concentrate resources on core terminal operations while divesting or gradually reducing non-strategic investments to optimize and streamline its terminal portfolio [2]
中远海运港口与中海北控按持股比例合共向合营公司增资2057万美元