Sinotrans subsidiary to sell 25% of Loscam stake

Sinotrans announced that its subsidiary, China Merchants Shipping Enterprise, will sell a 25% equity interest in Loscam International Holdings Ltd. to MIC Industrial Investments 4 RSC LTD. Simultaneously, CITIC Capital Maneuver will transfer its 3% stake and FV Pallet Leasing Holding Ltd will transfer its 2% stake in Loscam to MIC. The transaction, valued at USD 47,216.25 thousand (approximately CNY 338,162.78 thousand), is expected to generate an investment income of approximately CNY 1.793 billion (excluding tax impacts) for Sinotrans and bring in cash flow of CNY 4.442 billion (including proceeds from the share transfer and dividends). Post-transaction, China Merchants Shipping Enterprise will retain a 20% stake in Loscam, while MIC will hold 30%, CITIC Capital Maneuver will hold 30%, and FV Pallet will hold 20%. The deal is subject to regulatory approvals, including review by the State-owned Assets Supervision and Administration Commission (SASAC) and antitrust reviews.