Zheshang Development takes over Zhejiang Shipping Group

State-run commodity trader Zheshang Development has announced a restructuring plan to take over bulk shipping operator Zhejiang Shipping Group. Under the plan, Zheshang Development will acquire 100% equity shares in Zhejiang Shipping Group through the issuing of new shares to the current controlling shareholder Zhejiang Communications Investment Group. Additionally, Zheshang Development will bring in investment firm Zhejiang …

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