News
China Merchants Group and Sinotrans & CSC Holdings are preparing for a possible merger deal as part of the government's strategic reorganization of state-run enterprises. Hong Kong-listed Sinotrans Limited said in its statement to the Stock Exchange of Hong Kong on November 15 that its parent Sinotrans & CSC Holdings is preparing a strategic reorganization.
The State Council's State-owned Assets Supervision & Administration Commission (SASAC) has reportedly given preliminary approval to the proposed merger of the two companies and asked them to work out the restructuring plan.
China Merchants Group's revenue for 2014 was RMB624 billion while Sinotrans & CSC chalked up RMB96.7 billion in 2014.
