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Indiaexportnews.com

CMHI to become largest shareholder in Colombo International Container Terminals

  31.01.2012    

Hong Kong-listed China Merchants Holdings International (CMHI) is buying Sri Lanka-based Aitken Spence’s 30 per cent share in Colombo International Container Terminals, making the Chinese company the largest shareholder with 85 per cent control, according to Exim News Service.
CMHI and Aitken Spence have been joint venture partners in running the container terminal, developed at a cost of $ 500 million. The Sri Lankan Ports Authority has a 15 per cent golden share.
China Merchants Group Chairman, Mr Fu Yuning, said at a recent terminal ground-breaking ceremony that CMHI has plans to increase its investment in Sri Lanka and the buyout "was the beginning of many by China Merchants in this country."



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