Sinotrans buys from parent

Hong Kong-listed shipowner Sinotrans is spending CNY 901m ($145.23m) on buying companies from its parent Sinotrans & CSC.

It told the Hong Kong exchange that it is acquiring companies that operate in the freight forwarding, shipping agency, container leasing, warehousing and customs declaration sectors.

The units are based in Shandong, Guangxi, Fujian, Beijing, Hong Kong, Japan and South Korea.

The deals are subject to approval from independent shareholders, however.

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