Dalian Port Merges Container Terminal Facilities

first_imgDalian Port (PDA) Company Limited revealed that its subsidiary Dalian Container Terminal Company inked deals to acquire the total assets, liabilities, interests, and businesses of two container terminal subsidiaries, Dalian Port Container Terminal (DPCT) and Dalian International Container Terminal (DICT).With this move, PDA intends to further integrate resources, reduce management costs and improve operational efficiency, what is in line with the company’s strategy.As informed, the transaction will include equity transfer and swap agreements with DPCT’s and DICT’s shareholders which include Dalian Port, APM Terminals, PSA China, Cosco, NYK and China Shipping.The agreements are subject to relevant conditions. Once the transaction is approved, DPCT and DICT will be dissolved, according to Dalian Port.Dalian Port Container entered into the equity transfer deal with the vendor, APM Terminals Dalian, according to which APM will sell shares for USD 18 million. The shares represent 20% of the total equity interest in DPCT.The remaining shareholders will receive new stakes in the merged company.World Maritime News Stafflast_img read more

Bank of Commerce hosting Community Bank Week this Wednesday through Friday

first_imgSubmitted to Sumner Newscow — The Wellington Bank of Commerce & Trust Company is joining community banks nationwide in observing Community Bank Week.Taking care of customers and the community has always been important to Bank of Commerce. So from Wednesday through Friday this week the people who work at the Bank of Commerce would like to show appreciation to the community – customers and guests – with a celebration in the lobby.“Come see what we’re about,” said J.C. Long, Bank of Commerce President. “Join us for coffee and treats. Sign up for prize drawings. Ask us about our Crusader Check Card, Mobile App, loans and other services.For the kids, they can take a coloring sheet home or information on a website that makes learning about money fun – with heroes called “the Centsables!”last_img read more