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CIMC to acquire large stake in Yantai Raffles PDF Print E-mail
Thursday, 19 November 2009 23:17

Chinese container manufacturer, China International Marine Containers (CIMC) has said that it planned to acquire a 44.79 percent in the Yantai Raffles Shipyard in a deal worth US$1.7 billion.

This would give CIMC the controlling stake in the company, which is the largest producer of drilling platforms in China.

Yantai Raffles is headquartered in Singapore but has a production facility in Shandong, China.