The consideration will be paid via the transfer of 100 million treasury shares from Yangzijiang to Sanfu.
Mainboard-listed Yangzijiang Shipbuilding has acquired the remaining 20% stake it does not own in Jiangsu Yangzi Xinfu Shipbuilding (Xinfu Yard) for a consideration of RMB650 million ($136.9 million).
The group, on July 21, entered into a sale and purchase agreement (SPA) with Sanfu Shipbuilding Holdings.
