The consideration for the sale will be a nominal value of RMB 10, and Jiangyin Foreversun Chemical will take over the corporate guarantee with regard to a RMB 667 million loan owed to a financial institution in China.
A joint venture company of Hengyang Petrochemical Logistics has entered into an equity transfer agreement to acquire the 49% stake held by hazardous materials handler Odfjell Terminals Asia in Odfjell’s JV, Odfjell Nangang Terminals (Tianjin).
Jiangyin Foreversun Chemical Logistics will acquire a 49% stake of Odfjell Nangang Terminals (Tianjin), currently valued at RMB 342 million ($70.9 million), which puts the 49% stake at RMB 167.6 million.
