Companies

China Merchants invests in African shipping

(China Daily)
Updated: 2010-11-09 15:51

The China Merchants Holdings International Co will form a joint venture to take a 47.5 percent stake in a Nigerian container-terminal operator from ZIM Integrated Shipping Services Ltd, for $154 million.

China Merchants will initially hold 100 percent of the venture company, with the China-Africa Development Fund taking 40 percent after getting Chinese approval, China Merchants said in a Hong Kong stock exchange filing last Friday.

China Daily - Agencies