The acquisition was first announced on Sept 12, 2024, for a purchase consideration of RMB833.1 million ($153.62 million), based on a willing-seller, willing-buyer agreement.
Yangzijiang Shipbuilding has completed the capital injection for a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding (TZS), making the company a 34% owned associate.
Prior to the acquisition, TZS was a wholly owned subsidiary of Tsuneishi Holdings.
