September 1 -- Zhuhai Port (000507.SZ) plans to acquire 100 percent stakes in Zhuhai Gangtong Investment Development and Zhuhai International Shipping Agent for a total of 280 million yuan from its parent company, Zhuhai Port Holdings, reports Shanghai Securities Journal, citing a company filing.

Zhuhai Gangtong, founded in 2002 with a registered capital of 170 million yuan, is a shipping agent and handles the logistics and storage businesses of Zhuhai Port Group.

Zhuhai International Shipping Agent, founded in 1997 with a registered capital of four million yuan, is an international shipping agent.

According to the company, the acquisitions are aimed at further optimizing the company's port logistics business, and eliminating related party transactions with its major shareholder.

Source:capitalvue