Gelonghui, April 8, 丨 Jiahong Logistics (02130.HK) issued an announcement. The board of directors was informed by its controlling shareholder Cargo Services (Logistics) Limited (“CS Logistics”) that on April 8, 2024, CS Logistics Holdings Ltd (“CS Holdings”) had entered into a share purchase agreement with DP World Logistics FZE (“DP World”). Accordingly, after certain customary delivery conditions were reached or exempted, DP World agreed to the purchase, and CS Holdings agreed to sell all of its shares in the share capital of its wholly-owned subsidiary Cargo Services Seafreight Limited (“CS Shipping”) (“CS Shipping Transaction”). CS Holdings is the sole shareholder of CS Shipping, and CS Shipping owns 75% of all of CS Logistics's issued shares.
As of the date of this announcement, CS Logistics and CS Shipping jointly held an interest in approximately 57.9% of the company's total issued shares. Upon completion of the CS Shipping transaction, DP World will transfer all of the shares held by CS Logistics and CS Shipping to a wholly-owned subsidiary of DP World and become the company's new controlling shareholder.